504 Pitts Bayshore Drive
About This Property
Stunning waterfront home, just North of the 331 bridge. Motivated Seller!!! Prime commuter location! Stilt home on Burnt Mill Creek. Direct access to Choctawhatchee Bay and rivers. Fresh water and salt water fishing on the same day! Two fully covered boat slips w/ lifts. Hardwood floors, granite counters, 3 balconies, fireplace, large breakfast bar, stainless appliances. Master suite w/spa bath, separate shower and his/her closets. Powered boathouse/workshop. Additional storage rooms below home. Gazebo w/ dock overlooking the point, fire pit, additional outdoor living spaces for relaxing or entertaining. Screened entryway. And so much more, a must see!
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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