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208 Cherry Drive
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What does this mean?
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.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Apr 15, 2024 | Sold | ||
| Sold | |||
| Feb 10, 2024 | Listed by One Sotheby's International | $885,000 | |
| Listed by One Sotheby's International | |||
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Welcome to your dream coastal retreat! This exquisite 4-bedroom, 2-bath home, nestled on the barrier island, offers a haven of tranquility just a short two block stroll from the beach. Immerse yourself in the beauty of the Archie Carr turtle preservation area, where sea turtles grace the shores, making every beach day a unique encounter with nature.
Step inside this beautifully remodeled gem, and you'll find a perfect blend of modern elegance and beachside charm. The open-concept living spaces are adorned with stunning quartz countertops, complementing the allure of the coastal surroundings. The kitchen boasts brand-new appliances, while the renovations include a hot water heater, pool equipment, and a three-year-old HVAC system ensuring comfort throughout the seasons.
Whether you're gazing at rocket launches from your backyard or enjoying the serenity of your private in-ground pool, this home offers a front-row seat to the wonders of the space coast. Speaking of outdoor living, the spacious lanai with large tiles provides an ideal setting for entertaining family and friends, offering a seamless transition from indoor to outdoor enjoyment.
Practicality meets luxury with the inclusion of space to store your RV or boat, catering to those with a taste for adventure. The front walkway, adorned with charming pavers, leads the way to your oasis, creating a welcoming path to the entrance and surrounding the pool area.
Nestled in a coveted neighborhood, this property stands out as a gem without the constraints of an HOA. Join the locals in embracing the laid-back coastal lifestyle, where everyday living feels like a vacation. Whether you're seeking a permanent residence, a vacation escape, or an income-generating rental property, this opportunity is not to be missed.
Seize the chance to make this coastal haven your own - where the sun, sea, and space launches become part of your daily panorama. Don't miss the opportunity to turn this house into your forever home, vacation haven, or a lucrative rental investment. Your coastal paradise awaits!
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| Mar 2, 2022 | Sold | ||
| Sold | |||
| Feb 7, 2022 | Listed by Non-MLS or Out of Area | $625,000 | |
| Listed by Non-MLS or Out of Area | |||
Property Highlights
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About Melbourne Beach South
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017