3521 Pelican Way
About This Property
Enjoy panoramic bay vistas, spectacular sunrises, and stunning sunset reflections. Whether you're planning a luxury waterfront home, vacation retreat, or investment property, this lot provides the perfect setting.
Development is easy with public water, sewer, underground utilities, and paved concrete roads. Build on your timeline with no required construction deadline, and rentals are permitted.
Community amenities include a pool, clubhouse, fitness center, fishing piers, boat ramp and dock, tennis and basketball courts, playground, picnic areas, and secure RV/boat storage. A rare opportunity to own premium Texas waterfront property at an exceptional value.
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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 |
|---|---|---|---|
| Aug 13, 2026 | Price Decreased |
$225,000
↓ $20K
(8.2%) | |
| Price Decreased | |||
| Jun 3, 2026 | Listed by Luxurious Living | $245,000 | |
| Listed by Luxurious Living | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017