4729 Lemon Bay DRIVE
About This Property
This fully-renovated turnkey 3/1 home is what you've been looking for to enjoy the Florida lifestyle! The ability to walk across the street to the Beach Ferry is unparalleled, and the boat ramp access is a dream. No HOA or deed restrictions.
Block constructed with updated PGT windows, plumbing, and electrical, new kitchen, renovated bath, new floors, the owners have enjoyed it for personal use and it has also been a very profitable short-term rental during season. The open kitchen boasts brand-new stainless-steel appliances, new cabinets, showstopping tile wall, accent lighting, and bar top seating. A beautiful primary bedroom with king bed has coastal light-washed wood ceiling beams. The sunny second bedroom has a queen bed & ample closet space, and the third bedroom has twin bunk beds and a twin trundle bed. Fully fenced backyard with a large patio, bbq area, and outdoor shower. Plenty of room to add a pool.
Less than 5 min to the Legacy Trail entrance at Shamrock Park, very popular for walking/biking and nature trails, with tennis and basketball courts and playground. Come enjoy the sea breeze and sunset views over the mangroves!
Inventory in southwest Florida is limited, and a property with this kind of boat, beach ferry, and water access at this price point is extremely hard to find. Seller will convey all furniture and sell "as-shown" with full price offer.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017