292 S Beach STREET
About This Property
Enter the home through new modern double front doors leading to an inviting floorplan with Brazilian Cherry hardwood floors that features a large living room with expansive river views, game room with woodburning fireplace and French doors to the summer kitchen, newly remodeled half bath for guests, and a commercial grade chefs kitchen complete with 48" fridge, 6-burner gas cooktop, ice maker, blue-eye granite counters, and loads of cabinetry for ample storage. The kitchen also has a walk-in butlers pantry, seamless connection to the dining area with river views, and sweeping views of the backyard and pool spaces.
Upstairs there are four bedrooms plus a brand new office. The primary suite provides outstanding space for a true feeling of grandeur including newly remastered en suite bath with double vanity and an impressive 'wet room' with triple shower and standalone tub within a glass enclosure. Double French doors lead to a private terrace that has enough space to host a party on with wide river views expanding to the Granada Bridge and beyond. The southern guest rooms share a remodeled full bath with tub/shower combo while the northwest suite has a brand new full bath with walk-in shower and light and bright feel.
Every downstairs opening of the home is complete with electric rolldown hurricane shutters for full protection in all conditions while the upstairs windows are adorned with aluminum Bahama shutters for that Key West aesthetic and wind protection. Inside, every opening features high-end plantation shutters. The home sits high and dry with no history of water intrusion. The grill, cooktop, spa heater, and tankless water heater are all powered by a buried 500-gallon propane tank. AC units are 2016 and 2017. Metal roof is from 2011.
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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