4518 Palm Street
About This Property
Located on the free beach section (2nd access) of the island between the beach and the bay. Neighborhood had a public boat ramp access to drum bay that leads into Christmas bay.
Priced well below cad value.
According to the seller- the house is out of any city limits there are no building codes needed unless the anything done improves the current year's value by 50%. Adding a second story can be done without a permit as long as the value doesn't increase the current CAD value by 50%.
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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 |
|---|---|---|---|
| Jul 20, 2021 | Sold | ||
| Sold | |||
| Jun 7, 2021 | Listed by Gulf Coast, Realtors | $100,000 | |
| Listed by Gulf Coast, Realtors | |||
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The electric is connected but there is no power. There is no water as well water is the only water available and it is plugged. It needs to be drilled again. The septic is older and will still need to be upgraded to modern standards, estimated cost for those for the water well is $10k and the septic is about $10k. The house has been gutted and ready for fixes and upgrades.
Located on the free beach section (2nd access) of the island between the beach and the bay. Neighborhood had a public boat ramp access to drum bay that leads into Christmas bay.
Priced well below cad value.
According to the seller- the house is out of any city limits there are no building codes needed unless the anything done improves the current year’s value by 50%. Adding a second story can be done without a permit as long as the value doesn’t increase the current CAD value by 50%.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017