233 Rue Martine
About This Property
The main level is designed for connection and comfort, with open living and dining areas flowing naturally into the kitchen. Architectural columns subtly define the spaces while maintaining a sense o openness throughout the floor plan. Plantation shutters, crown molding, and neutral coastal finishes contribute to the home's timeless aesthetic, while tile flooring across the first floor offers durability and easy maintenance after long days at the beach. A gas fireplace with a living flame effect creates a warm focal point in the living room and adds ambiance for evenings spent relaxing or entertaining guests.
The kitchen was updated in 2022 and combines practical design with coastal charm. A large center island provides generous prep space and features a glass cooktop with a stainless vent hood above. The farmhouse sink, stainless appliances, and marbled countertops create a bright workspace, while the breakfast bar peninsula offers a convenient spot for casual meals or conversation while cooking. The renovation included new cabinetry, countertops, stove, dishwasher, sink, disposal, washer, and dryer, giving the space a refreshed and modern feel.
Upstairs, hardwood floors extend throughout the bedrooms, adding warmth and continuity to the second level. The primary suite offers a peaceful retreat with access to its own private balcony. The ensuite bath features shiplap walls, a double vanity, and a whirlpool soaking tub designed for relaxing after a day spent by the water. A full-width covered porch spans the second floor, offering another comfortable outdoor space for morning coffee, reading, or enjoying the gulf breeze in the evening.
Behind the home, an elevated deck and shaded arbor provide an ideal setting for outdoor gatherings, weekend grilling, or quiet afternoons spent outdoors. With private beach access located just yards away, trips to the sand and water become part of everyday life.
Additional highlights include a covered carport with paved driveway parking, a tankless water heater, and a new roof installed in September 2024. Residents enjoy access to community amenities, including two pools, tennis courts, private beach access, and security within the gated neighborhood.
Short-term rentals are permitted with a seven-night minimum, creating an opportunity for both personal enjoyment and potential rental income. With its beachside location, recent improvements, and inviting coastal design, this home offers an exceptional opportunity to enjoy life close to the water.
OPEN HOUSE SATURDAY 3/28 1p-3p.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017