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248 Point Salerno
About This Property
An updated EuroWall impact folding door system creates seamless indoor-outdoor living, opening to a beautifully designed pool surrounded by tropical landscaping. The home is positioned on a prime south facing point lot, providing exceptional privacy and abundant natural light. Residents enjoy access to the Private Bay Colony Beach Club with beachfront dining, Chickee Bar and beach services, along with newly updated tennis facilities. Ownership also includes full access to Pelican Bay amenities featuring pickleball, fitness center, miles of private beach, and two additional beachfront restaurants.
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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 |
|---|---|---|---|
| Aug 17, 2026 | In contract | - | |
| In contract | |||
| Jun 26, 2026 | Withdrawn | - | |
| Withdrawn | |||
| Mar 6, 2026 | Price Decreased |
$5,495,000
↓ $300K
(5.2%) | |
| Price Decreased | |||
| Jan 16, 2026 | Listed by Premier Sotheby's Int'l Realty | $5,795,000 | |
| Listed by Premier Sotheby's Int'l Realty | |||
| Apr 17, 2021 | Sold | ||
| Sold | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017