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27 LESLIE MEWS
About This Property
This exceptional lot boasts an impressive 80 feet of waterfrontage, perfectly positioned to directly face the captivating Assawoman Bay. Imagine waking up every day to the sight of shimmering waters and breathtaking vistas that stretch as far as the eye can see. Your future dream home will be the perfect vantage point to enjoy these spectacular water views, making every moment truly magical.
The current owners have made thoughtful investments in the property, including the replacement of the bulkhead with high-quality composite material in 2022. This not only adds immediate value to the property but also provides a secure foundation for potential dock construction. With this crucial infrastructure in place, you'll have the opportunity to create a personal oasis that blends seamlessly with the surrounding natural beauty.
Embrace the coastal lifestyle to the fullest by building your dream home on this remarkable lot. Beyond the property's captivating attributes, you'll have access to an array of amenities that the Ocean Pines community offers. Whether you're a sports enthusiast, nature lover, or simply seek relaxation, there's something for everyone. Enjoy amenities such as a baseball field, basketball courts, beach club, bike trails, boat ramp, community center, dog park, golf course, marina, indoor and outdoor pools, tennis courts, and inviting tot lots and playgrounds.
This exceptional opportunity is not one to be missed. With its prime location, stunning waterfrontage, and the wealth of amenities at your fingertips, this lot won't remain on the market for long. Seize the chance to own a piece of paradise in the coveted Terns Landing community and start the journey toward creating a life that embraces both luxury and natural beauty.
Don't hesitate – schedule a viewing today to witness the true potential of this remarkable property before it's gone.
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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.
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About Ocean Pines
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017