39 LEMA LANE
About This Property
Built in 2020 with solid block construction and meticulously maintained, this three bedroom, two full bath home features a flex room ideal for a home office, playroom, or additional living area. The open floor plan and split bedroom layout create both functionality and privacy, making the home ideal for everyday living and entertaining.
Travertine flooring runs throughout the main living areas, adding durability and timeless appeal. A four panel sliding glass door fully opens to the oversized screened lanai, creating a seamless indoor outdoor living experience and making the living space feel significantly larger. The lanai overlooks the peaceful canal and surrounding greenery, offering a relaxing and private setting.
Additional highlights include a three car garage, generous storage, and a clean, move in ready condition that reflects pride of ownership. This home combines modern construction, an open layout, and a desirable waterfront backdrop while remaining close to shopping, dining, parks, and Flagler Beach.
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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 |
|---|---|---|---|
| May 19, 2026 | Sold | ||
| Sold | |||
| Apr 3, 2026 | In contract | - | |
| In contract | |||
| Feb 27, 2026 | Price Decreased |
$444,500
↓ $5K
(1.1%) | |
| Price Decreased | |||
| Feb 16, 2026 | Price Decreased |
$449,500
↓ $6K
(1.2%) | |
| Price Decreased | |||
| Dec 29, 2025 | Listed by TAKE ACTION PROPERTIES, LLC | $455,000 | |
| Listed by TAKE ACTION PROPERTIES, LLC | |||
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About Mantanza Woods
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017