37 Daytona Street
About This Property
The interior includes two bedrooms and two bathrooms, plus a bunkroom. Currently utilized as a bunk room to maximize rental capacity, this area could easily transition into a private home office or additional storage. The property further extends its living space outdoors with a fun bar/hangout area in the backyard and a functional shed. For those looking to maximize the site's value, the absence of an HOA offers incredible flexibility. This property presents a prime opportunity for a knockdown to build a custom three-story luxury home, allowing for increased square footage and potential Gulf views in a high-demand area.
Situated in the heart of Miramar Beach, the home is a short distance from the shopping outlets at Silver Sands and the iconic beachside dining at Pompano Joe's. Whether you are looking for a turnkey rental or a blank canvas to build your coastal masterpiece, this location provides unparalleled access to the best of the Emerald Coast.
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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