36 OTERO Point
About This Property
Located on a spacious corner lot, this fully fenced yard backs up to wooded preserve for added privacy.
Inside you'll find upgrades like continuous luxury vinyl plank flooring, wood beams & crown molding.
The kitchen was recently renovated with shaker style cabinetry, quartz countertops, a marble backsplash & dark stainless appliances. Decorative barn doors slide open to a walk-in pantry off of the kitchen, and french doors open out from the dining room to an expansive open patio complete with a fire pit. A second set of sliding glass doors opens off of the family room to a covered screened lanai overlooking the preserve. Both outdoor spaces are ideal for year-round entertaining.
Outside finds a coastal exterior complete with a covered front porch, low maintenance Hardie siding w/ board and batten accents, and a paver driveway. The garage is outfitted with Epoxy flooring and overhead storage racks. Equipped with solar panels (paid in full), the electric bill averages around $15 per month & the ac is equipped with a whole house air purifier.
Located inside the gates of Palencia, you're surrounded by shops and restaurants with the added conveniences of a grocery store, a Starbucks, a post office, dry cleaners & an A-rated elementary school all within the community.
Residents enjoy resort-style amenities, including a fitness center, three community pools, lighted clay tennis courts, pickleball & basketball. You'll find pocket parks throughout the community, sports fields, and a 30- acre park system with fitness trails & a boardwalk leading out to the Intracoastal.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017