32 Sabal Island Drive
About This Property
The bright, spacious living room flows directly to the dining area with gorgeous views of the beautiful yard with mature landscaping and the unique advantage of the sounds of the nearby Ocean. While the home's exterior displays the charming look of the 1950's, the interior has been fully renovated and offers all of the upgrades, luxury and amenities for modern living and convenience.
Among the many renovations, there is all electrical wiring and main electrical panel, the plumbing and pipes have been replaced, and the window and door glass has been upgraded to impact glass. The living room features crown molding and recessed lighting, all the bathrooms have been upgraded and the entire interior has been freshly painted. The functional kitchen provides abundant storage, butcher block countertops, a tile backsplash and all new stainless steel appliances. There is a beautiful upstairs balcony with a custom tongue-in-groove wood ceiling, and a lower level canvas-covered patio off the living/dining area allowing for gorgeous views and perfect entertaining.
Additional amenities available include: membership in the McCormick Mile Beach Club with deeded neighborhood clubhouse access within walking distance, a zoned automatic lawn sprinkler system, attached garage and the security of living in beautiful town of upscale Ocean Ridge.
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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.
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About Mc Cormick Mile
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017