440 LAMBERT AVENUE
About This Property
Built with solid concrete block construction and outfitted with impact windows and doors, the home features soaring 12-foot ceilings, tumbled travertine floors, granite countertops, and solid core doors. From the moment you enter, the bright, open layout welcomes you with a hidden closet and a hidden stylish half bath, leading seamlessly into a spacious great room filled with natural light and unobstructed views of the water and pool through expansive sliders and windows.
The gourmet kitchen is a chef's dream, featuring a Viking six-burner gas cooktop, double convection wall ovens, stainless steel appliances, custom solid wood cabinetry with a decorative range hood, and a large walk-in pantry. Each bedroom is designed as a private retreat with its own en-suite bath, while a beautifully appointed office that is easily convertible to a fourth bedroom offers beautiful custom built-in cabinetry/shelving.
The luxurious owner's suite provides a spa-inspired experience with a steam shower, generous walk-in closets, ample built-in cabinetry, and a bidet. A large laundry room with a sink and cabinetry, a coffee bar, networking closet, and separate storage room enhance everyday convenience. The three-car garage includes insulated garage doors, side access door, built-in cabinetry and a walk-in attic storage with spray foam insulation throughout.
Step outside to an incredible 2,400-square-foot screened lanai finished with travertine decking. Ideal for year-round entertaining, the outdoor space includes a solar-heated saltwater pool, built-in summer kitchen, gas fireplace and TV hookup. The expansive fenced backyard leads to a private 100' seawall and a covered boathouse with two boat lifts, offering direct access to the water.
The home has seen thoughtful recent upgrades, including a $17,000 seawall enhancement, a cutting-edge 30-year "Essency" water heater (cost $6500), and two brand-new air conditioning units. Additional features include an indoor and outdoor surround sound system, a security system, gutters, ceiling beams, irrigation system sourced from a private well, outdoor shower, and paver walkways that wind to a serene firepit overlooking the water.
This one-of-a-kind property is a rare opportunity to own a truly spectacular home in an unbeatable location. Be sure to view the virtual tour for a walkthrough video and then schedule your private showing today!
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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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About Flagler Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017