Fully remodeled 2 bed, 2 bath home in Palm Bay Estates with canal
access and private boat lift to Turkey Creek and the Indian River.
Stunning kitchen features quartz countertops, custom cabinetry,
designer backsplash, and all new stainless steel appliances
including an induction cooktop, built-in double wall oven with air
fryer, and microwave. Bright, open layout with modern finishes
throughout. Major updates include roof (2019), A/C and hot water
heater (2021), and full remodel completed in 2022. Additional
features include seamless gutters, Sunsetter retractable awning,
spacious deck for outdoor living, and storage shed. Palm Bay
Estates offers amenities including community pool, clubhouse, boat
ramp, shuffleboard, and social activities. Ideal for boating or
full-time Florida living.
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.
Interior Features: Ceiling Fan(s), Eat-in Kitchen, Kitchen Island, Open Floorplan, Pantry, Walk-In Closet(s), Primary Bathroom - Shower No Tub
Appliances: Dishwasher, Disposal, Double Oven, Dryer, Electric Cooktop, Electric Oven, Electric Range, Electric Water Heater, Induction Cooktop, Microwave, Refrigerator, Washer
Flooring Type: Laminate, Tile
Laundry Features: In Unit
Exterior Details
Square Footage: 1408
Square Footage Source: $0
Property Condition: Updated/Remodeled
Architectural Style: Traditional
Year Built: 2005
Waterfront Features: Canal Front, Navigable Water, River Access
Waterbody Name: Canal Navigational to Indian River
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