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31 Amber Cove
About This Property
This property features three bedrooms plus a bonus room, three full bathrooms, and approximately 2,072 square feet of living space. The floor plan is designed to accommodate larger groups while remaining functional for full-time or second-home living. Interior highlights include open living and dining areas, a well-appointed kitchen, and multiple outdoor porches and balconies that extend the living space. The home has an established short-term rental history with documented gross rental revenue of approximately $86,800 in 2024 and approximately $75,700 in 2025 (partial year), reflecting consistent demand associated with Emerald Shores' private beach access and amenities. The layout allows sleeping accommodations for up to fourteen guests. Short-term rentals are permitted in Emerald Shores, and community amenities include a private beach pavilion, seasonal beach service, two community pools, and tennis courts.
31 Amber Cove presents an opportunity for a primary residence, second home, or a beach property with documented rental performance in a gated Miramar Beach community. Detailed rental history is available upon request.
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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