402 ZORAYDA Avenue
About This Property
2 bedrooms, 1 bath
1-car garage
Stainless appliances
Updated kitchen counters and back-splashes
Wood flooring throughout
Large great room with fireplace
A 5-minute walk to Bridge of Lions
A 5-minute drive to both RB Hunt and Cathedral Parish schools
Easy access and central location for beaches and Historic District
Home was not damaged, made no insurance claims, and did not need repairs after Hurricane Matthew
Corner lot is larger than a quarter acre
Recent tenants paid $1800 a month to rent, long term
A pretty galley kitchen with updated counters, back-splash, and stainless appliances includes a breakfast nook with plenty of windows and those gorgeous wood floor. The two bedrooms have relaxed color schemes and peaceful, meditative qualities. The home's single bath is cute with a pedestal sink, shower, and tub. Outside you'll find big trees with plenty of shade, the trunks strong and substantial enough to string a hammock betweena"where you'll likely fall asleep with a book propped on your nose. Your drive is welcoming, and done in pavers. On chilly days, of which there are precious few in Florida, you can retreat inside to your cozy sunroom and its enclosed glass porch. As mentioned, The Bridge of Lions is just a five minute walk away (!), R.B. Hunt Elementary, Cathedral Parish School, the St. Augustine Lighthouse, and Anastasia State Park's are all within a 5-minute drive (!!). If you ride a bike, that gentle surf and lovely, white-sand beach is just a few more minutes than in a car. And I haven't even mentioned the coffee shops or Anastasia Boulevard's burgeoning food scene (which has the locals raving, and is only a 5-minute walk).
This space is ready and waiting for you to reimagine. As with every mid-century home you'll find some work to do; but the roof is less than 7 years old and the A/C system is nearly new. And here's some more good news: The home was not damaged in any way by Hurricane Matthew. It sits approximately 2-feet above grade, saw no water inside the living area, was not gutted, made no insurance claims, and it needed no repairs. As an investment property it excels; the most recent tenants were paying $1800 a month.
Simply put, this home isn't the biggest, or flashiest, or newest, but the location is better than any other home in market for the price; it is truly a one-of-a-kind. Chances to snap up a home like this don't come along that often: Not in this location, and certainly not for this price. Will you make this your space? What story will you write here?
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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 |
|---|---|---|---|
| Sep 26, 2024 | Sold | ||
| Sold | |||
| Aug 15, 2024 | In contract | - | |
| In contract | |||
| Jun 27, 2024 | Listed by BERKSHIRE HATHAWAY HOMESERVICES FLORIDA NETWORK REALTY | $450,000 | |
| Listed by BERKSHIRE HATHAWAY HOMESERVICES FLORIDA NETWORK REALTY | |||
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Nestled on a corner lot in North Davis Shores, this charming cottage offers a perfect blend of comfort and convenience. The wide, tree-lined streets invite peaceful walks and bike rides. The home features a new roof and beautifully refinished wood flooring. Its prime location allows for easy strolls over the Bridge of Lions to Downtown St. Augustine, where you can enjoy all the city has to offer. With the flexibility for short-term rentals or as a delightful non-HOA residence, this property is also ideal as a college rental for Flagler students. Embrace the numerous creative opportunities this home provides. Don't miss out on this wonderful opportunity.
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| Sep 17, 2021 | Sold | ||
| Sold | |||
| Jun 22, 2021 | Listed by SA REALTY | $379,999 | |
| Listed by SA REALTY | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017