210 PATTERSON AVENUE
About This Property
Outstanding opportunity to acquire three homes in one transaction in a rapidly developing Osprey area. The properties are located close to the proposed Margaritaville Resort, which is expected to become a major destination in the area and has been proposed to include ferry service providing access to Siesta Key. This location is already generating significant attention, with increasing interest in the surrounding area.
All three homes are substantially completed, giving a buyer the opportunity to take over the project without starting from the ground up. The homes will require additional construction and finishing work, and a contractor will be needed to complete the remaining items necessary to obtain the required Certificates of Occupancy.
For the right buyer, this creates an opportunity to complete all three properties and determine the best strategy moving forward. Finish and sell the homes individually, hold them as investment properties, use them as long-term rentals, or ptentially sell them off separately for what could be a large profit.
Much of the heavy lifting has already been done, allowing an experienced investor, builder, or contractor to focus on completing the project and unlocking the potential value of the properties.
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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 |
|---|---|---|---|
| Sep 2, 2026 | Listed by REALTY ONE GROUP MVP | $1,150,000 | |
| Listed by REALTY ONE GROUP MVP | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017