3399 Cove Road
About This Property
This is the home you really won't want to leave. The moment you enter, you feel a calming and peaceful environment. Sunlight beams through the impact glass windows (2019) from every room providing a light and bright home. You'll have peace of mind with a metal roof (2018), newer appliances and an updated kitchen with gorgeous quartz countertops featuring glass backsplash tiles. Crown moulding has also been added along top of pristine painted walls. The white tongue and groove ceiling in the living room is befitting of a laid-back tasteful Florida home with an island vibe along with white plantation shutters throughout. Both baths were recently renovated and the AC is newer (2017). Thoughtfully planned lighted landscaping is abundant and adds to the curb appeal of this beauty day and night. The spacious backyard lends well to entertaining or just relaxing outdoors. Jump in the pool (resurfaced 2015) and spend the day under the spacious Chickee -- the perfect spot to host a back yard BBQ, read or watch your favorite team.
This entire home is equipped with Blink Security System - cameras at every opening which is operated by an app on your smartphone. There is a full size inside laundry room with additional shelving for extra storage as well as another large walk in closet off the living room.
The quaint community of Waterway Village is situated along the turquoise intracoastal water just east of US1 and is known for it's laid back lifestyle under the palm trees. It is part of
UN-incorportated Palm Beach County. Residents are often found enjoying all "Lot B" has to offer -- grab a chair and take in the scenery watching boats go by, gather at the Chickee Hut and cook out on BBQ grills, drop in at the paddleboard/kayak launching area, access the intracoastal for a quick swim or fish off the dock.
Let's talk walkability -- 3399 Cove Road is just steps from Tequesta restaurants & shopping (Tequesta Brewery, HogSnapper, Bellini's, Palm Beach Ice Cream, Josco, West Marine, Home Goods just to name a few) and a short bike ride to Constitution Park & the Atlantic Ocean.
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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 Waterway Village
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017