This custom estate, located on a sought-after corner homesite
within walking distance of the beach and Third Street South, has
been meticulously constructed by London Bay in collaboration with
Stofft Cooney Architecture, Exteriors by Koby Kirwin, and Romanza
Interior Design. The estate features an open-concept design that
seamlessly integrates both indoor and outdoor spaces. The great
room, dining room, and kitchen transition effortlessly into a
covered outdoor area, which includes an alfresco living room with a
fireplace, a dining space, and an outdoor kitchen, all set within a
tropical oasis characterized by lush, mature landscaping. The
elegant kitchen is equipped with a large island that accommodates
seating for five, alongside a well-appointed butler's pantry
discreetly concealed behind cabinetry. The primary suite is
designed with a custom dual walk-in closet and two opulent full
bathrooms, one of which includes a soaking tub and a vanity. The
study, located across from the foyer, features an interior glass
wall and windows that allow an abundance of natural light, framing
picturesque views of the thoughtfully designed water features,
pool, and spa. On the second floor, three generously sized en-suite
bedrooms provide private access to covered balconies. Additionally,
guests will find convenience in the laundry room and a loft area
that includes sliding doors leading to a balcony. The tropical
contemporary architecture is characterized by stone accents, a
metal roof, and a motor court for guest parking, and is further
complemented by the vicinity of newly constructed homes. Additional
noteworthy features include an elevator, generator, natural gas and
a three car-garage.
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%.
How much can I actually make?
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.
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