3085 Bay Oaks CIRCLE
About This Property
It's an ideal location to rebuild on this very private oasis surrounded by live oaks, with a spectacular one-mile view looking East over a mangrove hedge across Lemon Bay. Because the dock is on the S edge of this lot and the neighbor's dock is on the N edge, the vista is especially broad.
The dock with boat lift was redecked in 20223 but sustained hurricane damage. The seller has an estimate to replant poles and straighten the dock walkway. It is currently unsafe to walk on the dock.
Unharmed and intact on the property are a 2-car garage, a shed/golf cart garage, and a 40X12 ft lap pool with lights, a solar cover, and a panorama cage. The configuration of this lot is ideal for a rebuild. It's large (.44 acres), surrounded by trees, and can incorporate the existing garage and pool while maintaining and even enhancing the magnificent view. The last view shows a sketch of one conceptional option. ( Photos: 1-7 aerial; 8-14 pre-hurricane; 15-20 post-hurricane)
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Cap Rate Calculator
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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Feb 26, 2025 | Sold | ||
| Sold | |||
| Feb 6, 2025 | In contract | - | |
| In contract | |||
| Jan 29, 2025 | Price Decreased |
$810,000
↓ $75K
(8.5%) | |
| Price Decreased | |||
| Jan 18, 2025 | Relisted | $885,000 | |
| Relisted | |||
| Jan 12, 2025 | In contract | - | |
| In contract | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017