321 Malverne Road
About This Property
Great private residence or perfect investment opportunity for legal tenant or AirBnB. Unique Old Spanish charmer with beautiful touches and historic character in very desirable SoSo. 3-bed, 1-bath residence plus 1 bed, 1 bath legally rentable guest cottage/home office. Spacious and inviting, the main features lovely faux finishes and decorative archways. Bask in sun-filled Florida room or relax in living/dining area with fireplace. Living, Dining and bedrooms are graced with original hardwood floors. Galley kitchen features wood cabinets with wrought iron handles. Newer front-loading LG washer/dryer. Recline or play under a covered patio in the backyard. Guest Cottage features open kitchen/dining area, 1-bedrm, full bath, separate W/D in garage. Authentic Chicago brick covers front and side stairways, lush landscaping and hedges border property. Compliments of seller, buyer will receive One-Year American Shield Home Warranty on home systems and appliances. 2.5 ton air conditioner (2006) with micro bacterial air ducts/2 UV lights.
Ideal location provides ultra convenience and active lifestyle: stroll or bike along neighborhood's Intracoastal or Antique Row. Enjoy Kravis Center & City Place shopping, restaurants, movies, nightlife. Renowned Norton Museum and Sculpture Gardens nearby. Entertain the kiddies at the local Palm Beach Zoo or Planetarium. Easy access to Palm Beach Island, Airport and I-95. Don't miss out!
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 8, 2026 | Sold | ||
| Sold | |||
| Apr 24, 2026 | In contract | - | |
| In contract | |||
| Mar 8, 2026 | Price Decreased |
$750,000
↓ $19K
(2.5%) | |
| Price Decreased | |||
| Mar 2, 2026 | Price Decreased |
$769,000
↓ $30K
(3.8%) | |
| Price Decreased | |||
| Dec 12, 2025 | Price Decreased |
$799,000
↓ $51K
(6%) | |
| Price Decreased | |||
Property Highlights
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About Estates of South Palm Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017