51 Shingle Lane
About This Property
The first floor welcomes guests with a casual living room, two ensuite king bedrooms, a bunk room with four beds, and a laundry room with a drink refrigerator. An elevator serves all three floors, so luggage, groceries, and multiple generations move through the home with ease.
Up one level, the great room soars to 20-foot vaulted ceilings, anchored by a 12-foot island kitchen and a corner gas fireplace, with a screened dining porch off the main level and a deck with an outdoor fireplace overlooking the boardwalk just below. The kitchen is built for serious entertaining: brand new Thermador range, two dishwashers, refrigerator drawers, ice maker, and a wine cooler. An ensuite king bedroom and a second laundry room sit on this same level.
The primary suite occupies the third floor, where Gulf views greet you from the private deck. It includes a marble bath, private office nook, Juliet balcony overlooking the great room, his-and-hers closets, and a second wine cooler as you head up to the tower.
The carriage house guest suite with vaulted ceilings sits above the two-car garage: king bed, full kitchen, and full bath, accessible by private stair or bridge from the main home.
The 2023 refresh includes all new HVACs, water heaters, whole-home generator, refinished floors, interior and exterior paint, all new furnishings, bedding, art, and pool decking. Sold fully furnished and ready for your family to enjoy.
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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