338 W Bayou Forest Drive
About This Property
Tucked away on a peaceful cul-de-sac, this stunning .54-acre waterfront property boasts 50 feet of frontage on Mallet Bayou, offering deep water access and a true boater's paradise with easy entry to Choctawhatchee Bay. Whether you're an investor or a dreamer ready to build your custom home, this property is your blank canvas. Framed by native Florida trees and lush natural surroundings, the setting is both tranquil and inspiring. The previous home of 2,600 sq ft has been gutted and is ready for updating or a total rebuild. There is also a dock currently in place, but this will also need some updating. Easy Show!! The property is located in an AE Flood Zone.
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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 |
|---|---|---|---|
| May 29, 2025 | Sold | ||
| Sold | |||
| Apr 14, 2025 | Listed by Century 21 AllPoints Realty | $449,000 | |
| Listed by Century 21 AllPoints Realty | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017