240 PALMETTO DRIVE
About This Property
Luxury vinyl plank flooring flows throughout, complemented by recessed LED lighting and upgraded fixtures. The primary suite is a peaceful retreat with an oversized window, sliding glass doors, and a spa-worthy bathroom complete with a floating vanity, floor-to-ceiling white tile, contrasting black tile floors, a soaking tub, chandelier, and electric fireplace. The walk-in closet features custom built-ins for maximum organization. The guest bedroom is equally impressive with a built-in desk, shelving, and premium closet system, while the guest bathroom boasts a frameless glass enclosure and designer finishes.
Step outside to a fully fenced backyard with lush landscaping, concrete curbing, and plenty of room to add a pool. The front of the home offers outstanding curb appeal with an oversized driveway, LED landscape lighting, and continued concrete curbing. A large shed provides extra storage, and the home also includes a whole-home water filtration system for added comfort and peace of mind.
A major bonus for safety and insurance savings: the entire home is equipped with hurricane impact-rated shutters and doors-a significant upgrade that not only protects your investment but can also substantially reduce insurance premiums. Additional updates include a 2017 roof, 2020 A/C, 2020 garage door, and an upgraded electrical panel with generator hookup.
Best of all, this home is not in a flood zone and is ideally located less than 15 minutes from local beaches and Downtown Wellen Park. This is not your typical remodel-this is luxury, functionality, and location all in one. You truly have to see it in person to appreciate the quality and care that went into every inch.
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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