228 SE Pelican Drive
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 6, 2024 | Sold | ||
| Sold | |||
| May 30, 2024 | Listed by Engel & Volkers Stuart | $999,995 | |
| Listed by Engel & Volkers Stuart | |||
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Find the relaxed Florida lifestyle nestled on Stuart's renowned Pelican Drive, a stone's throw from the St. Lucie waterway along Riverside Drive. This charming 1977 residence, enveloped in durable Hardiplank siding & metal roof, has timeless appeal with 2022-2023 upgrades. Updates include rejuvenated bathrooms, luxury plank floors, new door casings & base trim. Courtesy of 2023 17KW solar system, enjoy low electric bills year-round comfort from two 2022 A/C units. Relish river breezes from front porch or bask in sunlit oasis surrounding heated pool & spa, resurfaced in 2023. The heart of the home is chef's kitchen, equipped with gas range. Main house has 3 upstairs bedrooms, including master. The 4th bedroom is Guest Quarters w/ private garage entrance separate from house, very rentable!
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| Mar 11, 2024 | Listed by Engel & Volkers Stuart | $999,950 | |
| Listed by Engel & Volkers Stuart | |||
| |||
|
Find the relaxed Florida lifestyle nestled on Stuart’s renowned Pelican Drive, but a stone's throw from the St. Lucie waterway along Riverside Drive. This charming 1977 residence, enveloped in durable Hardiplank siding & metal roof, has timeless appeal with 2022-2023 upgrades. Updates include rejuvenated bathrooms, luxury plank floors, new door casings & base trim. Courtesy of the 2023 17KW solar system, enjoy affordable year-round comfort from 2 new A/C units. Relish river breezes from front porch or bask in sunlit oasis surrounding the heated pool & spa, resurfaced in 2023. The heart of the home is the chef’s kitchen, equipped with gas range. Main house has three bedrooms upstairs & the fourth bedroom is the guest quarters with its own private entrance separate from the house.
Location is key: Downtown Stuart 1 mile away, 3 miles to picturesque beaches & mere blocks to a plethora of healthcare services.
Pelican Paradise is the ideal backdrop to embrace the best Florida lifestyle!
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| Aug 6, 2021 | Sold | ||
| Sold | |||
| Apr 1, 2021 | Listed by Water Pointe Realty Group | $689,000 | |
| Listed by Water Pointe Realty Group | |||
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About Stuart
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017