20247 Castlemaine Avenue
About This Property
What truly sets this home apart is the comprehensive investment made by the current owners in virtually every major system. A new roof was installed in 2022, joined by a full complement of impact PGT windows and a hurricane-rated front door - giving this home a level of storm protection that exceeds the standard. The lanai is equally protected with accordion hurricane shutters, making the entire envelope of the home secure and ready for whatever the season brings. A new HVAC system and thermostat were installed in 2023, followed by a complete replacement of all AC return ductwork in 2024 - the kind of infrastructure investment buyers rarely find already done. A new 50-gallon water heater with expansion tank rounds out the mechanicals, all replaced within the last few years.
Diagonal tile flows seamlessly through the main living areas and den, while grouted tile carries through to the primary bedroom as well. The primary bath is appointed with his and her sinks, a Roman soaker tub, and a walk-in shower, while the guest bathroom has been upgraded to a walk-in shower. Natural light pours through the new impact windows, filling the home with a brightness that makes every room feel open and welcoming.
Curb appeal here is genuine - premium landscaping is framed by a clean cement border edging the front bed, creating a polished, defined look that holds up year-round in the Florida climate. The exterior was freshly painted in 2023, with updated lighting on both the garage and lanai adding a finishing touch. New gutters and downspouts complete the exterior package.
The sellers are open to negotiating furnishings, and a transferable home tech service contract conveys with the property - a rare and valuable inclusion.
Beyond your front door, residents of Cascades at Estero enjoy a vibrant resort-style lifestyle anchored by a recently renovated clubhouse featuring a grand ballroom, state-of-the-art fitness center, tennis, pickleball, bocce, billiards room, and arts and crafts studio - all with some of the lowest HOA fees in the area, which include cable, internet, ADT security monitoring, and more. Perfectly situated in the heart of Estero, you're just minutes from Coconut Point Mall, Gulf Coast Town Center, Miromar Outlets, Southwest Florida International Airport, and some of Southwest Florida's most beautiful beaches.
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Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017