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36 Spanish River Drive
About This Property
A winding brick driveway leads the way to a beautiful front facade and oversized garage. Once inside, you are greeted by a bright and cheery 3,113 square foot open floor plan with high volume ceilings and beautiful stained in place maple hardwood floors throughout. Natural light pours through the home's countless impact windows and sliding glass doors, and each window invites the lush landscaping that encircles the property inside. The open kitchen features a built-in refrigerator, black satin marble countertops, an induction cooktop convection oven, and subzero wine cooler. Each bedroom has custom built-in closets with plenty of room for future expansion and extra shelving.Both bathrooms in the home boast floating vanities and comfort heigh toilets, and the master bathroom's shower is covered in Italian Kalikala Gold Marble Tile. Just as stunning as the home's interior is its beautiful backyard, with mature landscaping that shrouds the area in green tinted privacy. Turkish marble pavers stretch across the patio area and pool and a cabana bathroom with a low profile extra wide tub is easily accessible.
Other notable features of this home include a new roof with mitered ridge joints, extra shelving for wine cellar configuration, and totally recessed siltstone countertops in the garage.
Ocean Ridge is an exclusive waterfront community nestled between Gulf Stream and Boynton Beach. Minutes from downtown Delray, Gulf Stream, and just a short drive away from Palm Beach Island, this desirable neighborhood offers unmatched privacy and access to the best that South Florida has to offer.
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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 Inlet Cay
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017