240 Shimmer Circle
About This Property
open space for privacy and scenic views. Inside, you'll find a luxurious owner's suite and a spa-inspired bath featuring a soaking tub, walk-in shower, dual vanities, and a generous walk- in closet. The first floor welcomes you with a grand foyer, an open-concept living and dining area, fireplace, and a gourmet kitchen with a large center island, working pantry, and premium finishes. Additional highlights include an optional study/office, an extended laundry room, an additional bedroom, and a large loft which provides flexible space for a playroom or media area. Residents enjoy resort-style amenities and the nearby Bay Club.
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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 1, 2026 | Sold | ||
| Sold | |||
| Feb 28, 2026 | Listed by Randy Wise Realty LLC | $1,374,208 | |
| Listed by Randy Wise Realty LLC | |||
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Last Updated: 5 months ago
Data Source: Emerald Coast MLS (ECAR), MLS# 996519
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017