403 29TH STREET NW
About This Property
The main house features two spacious bedrooms and one full bathroom, showcasing beautiful original hardwood floors, and a bright, open-concept layout. The detached mother-in-law suite is a charming open air conditioned studio with its own full bath and separate entrance, ideal for guests, potential additional rental income, or creative flex space.
In 2024, the home underwent extensive improvements including new metal roofs and gutters on both the bungalow and garage, with significant repairs and reinforcements to supporting beams before installation. The detached garage was carefully restored with new treated wood floorboards and upgraded electrical, including elevated outlets for added safety. The breezeway shed was also rebuilt with treated lumber to preserve its original character while reinforcing its structure.
Inside the main home, the kitchen ceiling was fully replaced with new beams and attic insulation, resulting in a fresh, sturdy update that pairs perfectly with all-new stainless steel appliances (2024). A brand-new HVAC system was also installed in 2024 by Air America and comes with a yearly maintenance contract. The bathroom has been remodeled, featuring a reglazed tub, new fixtures, and professional paint for a clean, coastal feel.
Added modern upgrades include a whole-home surge protector installed by FPL, which provides appliance and wiring insurance, along with a full-home fumigation and a transferable warranty. Pest protection continues with a Sentricon system and Westfall Pest Control contract, including a rodent baiting program. For peace of mind, four new Ring cameras were mounted to monitor the home's exterior, and hurricane shutters are included. Natural gas is available on the property.
Outdoor living shines with a screened-in front porch strung with cafe lights, a paved brick patio, tropical landscaping, and plenty of space for relaxing or entertaining beneath the palm trees. Whether you're enjoying the sunset from the porch, firing up the grill in the backyard, or hosting guests in the studio suite, this property truly offers the best of laid-back Gulf Coast living.
This one-of-a-kind bungalow is move-in ready, filled with thoughtful improvements, and fully equipped for a lifestyle of ease, comfort, and income potential. Whether you're looking for your next investment or your own slice of Florida paradise, this rare gem offers it all-history, charm, flexibility, and location.
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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%.
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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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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017