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Merrick 11566 Merrick
2862 Bay Drive
$1,250,000
● House - Off Market

2862 Bay Drive

Hempstead, NY 11566
bedrooms
5 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
3,500 Ft²
$1,803,873
RealtyHop Estimate
33.72%
Since Nov 1, 2020
National-US
Primary Model

About This Property

New Build 2006 with all the bells and whistles,great location and amazing resort yard/Sltwatr IGP/Waterfall!Custom throughout w/Chefs Eik,All hi end Stainless Viking/Sub Zero/Miele,Radiant Ht,Guest Suite on Main,Outdoor Kitchen,King Mstr/Deck/Spa Bth Ensuite,Tiki Bar/Flatscreen,Cvac,New PVC Blkhd/Jet Ski Lift,Hardwd Flrs,Pavers,Dsgnr Bths,Sltwtr Igp,Lots Of Storage,Led Lighting,Minutes to Bay! Oversized Property,Low Taxes,Ready To Go! A Must See-saro, Additional information: Appearance:platinum +,Business Located At:,Rental Income:,Separate Hotwater Heater:y
Unit Size
3,500 Ft²
Days on Market
-
Land Size
0.18 acres
Price per sqft
$385
Property Type
House
Property Taxes
$1,719
HOA Dues
-
Year Built
2006

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

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.

Last updated: 4 months ago (OneKey MLS #KEYL3189538)

Price History

Date / Event Date Event Price
Oct 28, 2020 Sold
Premium
Sold
Jun 18, 2020 In contract -
In contract
Jan 6, 2020 Listed by Douglas Elliman Real Estate $1,349,000
Listed by Douglas Elliman Real Estate
Nov 14, 2018 No longer available -
No longer available
Aug 3, 2018 Relisted $1,450,000
Relisted
Show More

Property Highlights

Garage
Air Conditioning
With View
Fireplace

Building Info

Overview

    General

  • Year Built: 2006
  • Effective Year Built: 2006
  • Total Rooms: 8
  • Bedroom Count: 0
  • Bathroom Count: 4
  • Full Bathrooms: 3
  • Partial Bathrooms: 4
  • Bathroom Plumbing Fixtures: 1
  • Building Condition: 3
  • Building Quality: 4
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 2
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 20
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 5
  • Basement Area: 0
  • Garage Type: 7
  • Garage Square Area: 400
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 7
  • Pool Type: 10
  • Location Influence Type: 14

    Dimensions

  • Lot Size Square Feet: 7,910
  • Lot Size Depth Feet: 1,110
  • Lot Size Frontage Feet: 700
  • Total Building Area: 3,080
  • Building Area: 3,080
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 3
  • Heated Square Feet: 3,080
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 1
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000182
  • Standard Land Use Code: 1001
  • County Land Use Code: 2100
  • Legal Description 1: TOWN #1 SCH DIST 025

Neighborhood

  • School District Name: Merrick Union Free School District
  • School Tax School District: 025
  • Census Tract: 415102

Geography

  • District: 282089
  • Section: 62
  • Parcel: 62-194-00-0056
  • Block: 194
  • Lot: 56
  • Municipality: HEMPSTEAD UNINCORPORATED
  • Latitude: 40.6493
  • Longitude: -73.5444

    Address

  • Full Address: 2862 Bay Dr
  • Address - House Number: 2862
  • Address - Street Name: Bay
  • Address - Suffix Type: Dr
  • State: NY
  • City Name: Merrick
  • Carrier Code: C004
  • 4-Digit Zip Code: 4603
  • Zip Code: 11566

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $2,714,853
  • Tax Rate Code Area: 126

    Appraisal Valuation

  • Standard Deviation: 0.1849
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 75
  • Final Value: 1,307,189
  • High Value: 1,548,893
  • Low Value: 1,065,485

    Market Valuation

  • Market Total Value: $1,034,000

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,034
  • Assessed Land Value: $336
  • Assessed Improvements Value: $698

    Sales

  • Current Sale Contract Date: Oct 27, 2020
  • Current Sale Recording Date: Nov 04, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 12
  • Current Sale Input Document Number: 2020-104687
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Merrick

Stats & Trends

Median Asking:

$899,500

Sale Price/ft²

$492

Below Asking

0.01%

Average Days on Market

87

Average Home Size

2184 ft²

Average Home Age

61.4 years

Currently For Sale

31 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 317 Bedford Avenue, Bellmore, NY, 11710

$2,900 /mo

  • 1 Bed
  • 1 Bath
  • 800 ft²
317 Bedford Avenue, Bellmore, NY, 11710 Listing by Gina M. Padro HFR PSA RSPS SFR SRS
Unit for rent at 1973 Bellmore Ave, Bellmore, NY, 11710

$3,400 /mo

  • 3 Beds
  • 2 Baths
  • 1,000 ft²
1973 Bellmore Ave, Bellmore, NY, 11710 Listing by Xiu Chen

Rentals Near You

Click here to view more rentals in the neighborhood.
OneKey

Last Updated: 4 months ago
Data Source: OneKey MLS

Frequently Asked Questions

When was property at 2862 Bay Drive built and last sold?
The property at 2862 Bay Drive was built in 2006 and last sold on Oct 27, 2020 for $1,250,000.
How much is this home worth?
The estimated value of the home located at 2862 Bay Drive is $1,357,044.
What are some comparable homes to 2862 Bay Drive?
There are currently no comparable homes to 2862 Bay Drive.
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