389 Mallet Bayou Road
About This Property
Contemporary concrete home on 1/2 acre in a peaceful and serene setting just minutes from the Gulf of Mexico. This 3 bedroom, 1.5 bathroom home with soaring ceilings has been updated and delightfully accented with chandeliers and artistic flair. The oversized screened front porch overlooks the expansive lawn with fruit trees. This fully fenced property has a detached metal studio/workshop and carport on 6'' slab plus an additional insulated storage building that can be heated and cooled - this flex space makes a great office!
Primely positioned for work and play!
4 minutes (2.4 mi) to Grady Brown Park.
15 minutes (10 mi) to Grayton or Blue Mtn. Beach
6 minutes (3 mi) to Publix & Shoppes of Freeport.
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Cap Rate Calculator
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 |
|---|---|---|---|
| Jan 31, 2025 | Sold | ||
| Sold | |||
| Dec 6, 2024 | In contract | - | |
| In contract | |||
| Nov 24, 2024 | Price Decreased |
$374,900
↓ $10K
(2.6%) | |
| Price Decreased | |||
| Oct 15, 2024 | Listed by La Florida Coastal Properties | $384,900 | |
| Listed by La Florida Coastal Properties | |||
| Oct 27, 2021 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017