Thoughtfully designed and built with attention to detail, this
custom home, located in beautiful Captains Cove, is situated on a
corner lot with water views from every room. The perfect marriage
of form and function. Watch the sunrise over the Chincoteague bay
and set over the canal. This home boasts almost 2,700 square feet
of living space with 4 spacious bedrooms and 3 full bathrooms
including a massive primary suite, that features a walk in tile
shower, large soaking tub, rear deck access, and dual closets. This
home was designed for efficiency with dual zone heat pumps, with
propane back up, and a cozy pellet stove. Sturdy 2X10 floor joists
and Luxury Vinyl Plank flooring add durability and reduce
maintenance. The kitchen is equipped with a 6 burner gas stove,
double oven, black stainless steel appliances, beautiful quartz
counter tops, a decorative tile back splash, ample cabinet space
and a large walk-in pantry, making it a chef's delight. The ground
level was very well thought-out with 2 remote controlled garage
doors, a workshop area, utility room and dual barn doors that open
up to a concrete patio with outdoor shower along the canal front,
allowing the breezes from the bay to cool things off in the Summer.
The ground level offers indoor parking for multiple vehicles while
still having plenty of space for your toys, bikes, and golf cart
for exploring the amenity rich community that features golf, pickle
ball, tennis, indoor pool, fitness room, 2 outdoor pools and the
Marina Club Restaurant. This stunner has a variety of outdoor
spaces to choose from for entertaining and relaxing. There are 3
open deck areas, each with their own inviting characteristics
whether you want to sun, relax in the shade, or lounge with a book.
Additionally there is a large screened porch that makes a perfect
outdoor dining space without the hassle from uninvited pests. Last
but not least, the viny bulkhead is only 5 years old and the 7,000
lb boat lift will keep your boat high and dry reducing costly
maintenance and giving you peace of mind. This home is truly a must
see. Most furnishings can convey at no additional cost with an
acceptable offer. Minimal exclusions will be provided prior to
ratification if desired.
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.
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