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4001 Brandon Drive
About This Property
vehicles or anything else like tennis/basketball court, this is it. The property was four lots, you can build another two houses or a guest house. The computer form has it a
waterfront. It is a small canal that does lead to Lake Ida, but you can only do paddle boards or a kayak. Many options with this property. This makes a great private home. OR This can be an investment property, it has been rented out for $7,500 per month for the last 2 years to a corporate client. The lease can be cancelled in 90 days. It can be a winter home and rent it on VRBO the balance of the time. Prior to the corporate client lease, it was on VRBO for two years, with nightly rates ranging from $350 to $450 per night. It was always rated 5 stars. There is a 25 minute walk through video of this property attached to the MLS. If you have interest in the house this is the best way to see it and make sure it works for you. If you don't see the link email me and I will send it to you. I will not disturb my current tenants unless a have a very serious prospect.
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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 High Point of Delray Condominiums
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017