17
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530 Australian Circle
About This Property
A former 4th bedroom has been opened to create a formal dining room-ideal for entertaining-and could easily be converted back to a 4th bedroom if needed. The spacious laundry room offers abundant storage plus a laundry tub.
The former carport has been converted into a 1-car garage, and French doors open to a patio area. Additional highlights include laminate flooring in the bedrooms, a screen a screened porch, an updated second bathroom, and an original primary bath with room to expand. The yard is supported by an automatic 6-zone sprinkler system fed by a deep well.
Ideally located near Downtown Lake Park's dining, shopping, theatre, and waterfront Kelsey Park, plus easy access to Publix and the beach. With major nearby redevelopment underwayincluding Kelsey Park waterfront revitalization, a new fitness trail, splash pad, and a marina district with hotel and boardwalkthis is a prime opportunity in one of Palm Beach County's fastest-rising communities.
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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%.
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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.
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About Kelsey City
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017