516 71ST STREET
About This Property
ability to have your boat in your back yard! The minute you walk up to the bright and cheery property you can see this home was lovingly maintained. Attached garage, paver drive, walkway and cover front porch with brick accents all add to the charming facade. The
large, manicured yard includes extra storage, an oversized pool, lush landscaping, a serene peaceful outlook of the canal with a newer seawall and dock comprised of Trek/composite materials, and plenty of room to expand the footprint of the home or build new. Imagine taking your boat out to explore the open waters brimming with manatees, dolphins and stingrays on your way to one of the many great restaurants accessible by boat.
Spectacular sunsets can be enjoyed from your back yard overlooking almost 100 ft of canal frontage and just a short walk to some of the most beautiful beaches in the world! Damage from Hurricane Helene has been professionally remediated and ready for you to remodel.
There are coveted terrazzo floors throughout that could be restored to keep the authentic vibe of the original beach home. So much potential! Come see this island gem today!
NOTE: The front lead-glass door does not transfer with property. We will provide $250 towards a new door if the current structure is remodeled. If the structure is knocked down, there will be no allowance of $250.
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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