2602 Bayshore Drive
About This Property
The upstairs primary suite is a newer addition (2006/07), with cathedral ceilings and spa inspired bathroom, bamboo floors and 2 sets of french doors leading to the balcony. At the time the second story was built the entire home received new windows, new electrical wiring & plumbing, storm shutters, a metal roof, and concrete siding. Upstairs and downstairs have separate, new, central A/C units. Truly stunning views will captivate you of several island waterways, sunrise over the lifted Matlacha bascule bridge, and sunset on Little Pine Island. Notice there is a lovely low maintenance landscape. Rocks, palm trees, and hibiscus bushes mean your weekends will be out on the sandbar or Cayo Costa Beach park. There is potential to add an elevator or traditional stairwell. Washer & dryer, dining room set, most outdoor sets, and upstairs furniture (including 2nd refrigerator) will stay for the new owner along with linens, Fiesta Ware and necessary kitchen items inside the drawers and cabinets. With a successful history as an Airbnb and VRBO, this dreamy home is a rare find. Owners are open to an extended contract for new owners to separately purchase the adjoining land.
The adjoining waterfront lot has a 2nd boat lift and docking/shore power pedestal for liveaboards. That slip and dock could be used to create extra rental income. Experience the best of Matlacha's development boom with this slice of paradise!
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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