Look no further! Impeccable and priced more than $200K below its
recent $1.2M appraisal, this 2021-built 4-bedroom, 3.5-bath
canal-front home on Tiki Island offers direct Jones Bay access,
waterfront balcony with remarkable sunset views, a private boat
slip, and NO HOA. Interior elevator connects every level to the
open-concept main floor, featuring a spacious kitchen island with
walk-in pantry, propane gas range, stainless appliances, designer
lighting, spacious dining and living room, and a striking open
stairwell. Primary suite on the main level with large ensuite bath.
Three bedrooms, including a second primary, are upstairs. The
ground-floor offers endless possibilities for outdoor living space,
ready for a custom pool, hot tub, or swim spa, plus room for an
outdoor kitchen, bar, or lounge steps from the dock and canal. An
oversized enclosed four-car garage adds exceptional storage and
flex space. A rare find in one of the Gulf Coast's most desirable
waterfront communities.
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.
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