5348 PALANGOS DRIVE
About This Property
A standout feature of the property is the impressive 2,000 square foot metal building. Ideal for collectors, car enthusiasts, boat storage, a mechanic shop, or operating a home based business, this massive structure offers incredible flexibility. The building also includes an office space that can remain for convenience or easily be removed to create additional open workspace.
Built in 2015, this well maintained 4 bedroom, 3 bathroom home features impact windows and doors, real wood plantation shutters, an insulated foam roof for energy efficiency, and two air conditioning systems. The spacious 3 car garage includes epoxy floors and a mini split system for added comfort and functionality. The home also offers two private well systems and a new pump.
Inside the home, French cut tile flooring runs throughout the main living areas leading to a large family room designed for gathering and entertaining. The primary and guest bedrooms feature attractive tile plank flooring.
The kitchen offers granite countertops, high end cabinetry, a large center island with wine storage and wine cooler, a pot filler, and a spacious walk in pantry with wood shelving.
The primary suite includes a beautifully designed bathroom with dual vanities, a Jacuzzi soaking tub, and a large walk in shower creating a relaxing private retreat.
This unique property offers the rare combination of acreage, privacy, extensive outdoor improvements, and a massive workshop all while being conveniently located just minutes from I 75, shopping, dining, and historic downtown Punta Gorda.
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Cap Rate Calculator
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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 29, 2026 | Sold | ||
| Sold | |||
| Apr 22, 2026 | In contract | - | |
| In contract | |||
| Mar 25, 2026 | Price Decreased |
$949,000
↓ $50K
(5%) | |
| Price Decreased | |||
| Mar 7, 2026 | Price Decreased |
$999,000
↓ $100K
(9.1%) | |
| Price Decreased | |||
| Mar 4, 2026 | Listed by COLDWELL BANKER SUNSTAR REALTY | $1,099,000 | |
| Listed by COLDWELL BANKER SUNSTAR REALTY | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017