4795 Ocean Boulevard
About This Property
The lovely front courtyard encloses a private pool, which includes a cascading waterfall that is perfect for cooling off on summer days. The home includes a one-car garage with storage space, a Rinnai tankless water heater, and an outdoor shower. The garage measures an additional 312 SF, while the pool area provides an additional 470 SF of functional and livable space to enjoy!
A very short walk past two homes leads to the large community pool, hot tub, and clubhouse--and it's not much further to the private walkover for Destiny residents to access the stunning Emerald Coast beach. Being all about the beach, the amenities, and the idyllic location, Destiny is equally appealing for full-time residents, second-home owners, and those seeking income from a short-term rental property. The gated community lies along the most beautiful part of Destin's Scenic Highway 98 and its excellent walking, jogging, and bike riding paths. Residing here requires a daily choice between greeting your human neighbors from its paths or the sea birds and dolphins from the shore--or try one by morning and another for the setting of the sun! Destiny is within easy reach of Destin's best restaurants, shopping, and conveniences and the Emerald Coast's best golfing, fishing, attractions, and entertainment.
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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