30
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209 Michael Avenue
About This Property
The home features two separate living areas, providing a unique opportunity to convert one into a fourth bedroom and increase both resale value and rental potential. Additional features include a spacious kitchen, primary suite with a walk-in closet, and a large backyard with room for future improvements.
The property needs repairs, updating, and general cleanup, but offers a functional floor plan and strong potential as a fixer-upper, long-term rental, or investment property. Conveniently located near Hurlburt Field, beaches, shopping, dining, and everyday conveniences. Property is being sold as-is.
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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 |
|---|---|---|---|
| May 21, 2026 | Price Decreased |
$239,000
↓ $6K
(2.5%) | |
| Price Decreased | |||
| Feb 23, 2026 | Relisted | $245,000 | |
| Relisted | |||
| Feb 13, 2026 | In contract | - | |
| In contract | |||
| Jan 31, 2026 | In contract | - | |
| In contract | |||
| Jan 1, 2026 | Price Decreased |
$245,000
↓ $15K
(5.8%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017