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Map
4231 Hwy 389
About This Property
Presenting a prime 4.71-acre parcel located within the city limits of Lynn Haven. This high-and-dry property offers an exceptional opportunity for builders and developers seeking to invest in one of the area's most desirable and rapidly expanding communities. Zoned R-1 (Single-Family Residential), the property includes conceptual plans for either a 16-lot single-family subdivision . Plans can be finalized to align with your specific vision, making this a versatile and ready-to-advance project. Surrounded by newly constructed subdivisions and conveniently located near top-rated schools, dining, and shopping, this parcel is ideally positioned to meet the growing demand for quality housing in the area. Opportunities of this scale and location are increasingly limited.
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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 29, 2026 | Relisted | $555,000 | |
| Relisted | |||
| Sep 9, 2026 | In contract | - | |
| In contract | |||
| Feb 19, 2026 | Listed by Legacy Premier Agency | $555,000 | |
| Listed by Legacy Premier Agency | |||
| Aug 18, 2019 | No longer available | - | |
| No longer available | |||
| Aug 10, 2019 | Relisted | $390,000 | |
| Relisted | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017