323 Avenue A
About This Property
The property is being sold as-is, with no warranties or representations, as the sellers are the heirs to the estate and have never occupied the home. Value is in the location-steps from the beach, surrounded by established homes, and situated in a premier coastal enclave where opportunities like this are few and far between.
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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 |
|---|---|---|---|
| Feb 26, 2026 | Sold | ||
| Sold | |||
| Feb 14, 2026 | In contract | - | |
| In contract | |||
| Feb 10, 2026 | Listed by One Sotheby's International | $459,000 | |
| Listed by One Sotheby's International | |||
Property Highlights
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About Melbourne Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017