5502 Inspiration TERRACE
About This Property
Screened outdoor living space houses lanai area featuring new travertine tile, resurfaced pool with designer waterline tile, newer pool heaters, heated spa, outdoor kitchen with marine grade polymer cabinetry, grill, range hood, and sink, pool bath, eco-friendly exterior insect sprayer system and more. Step out to a large rear secondary lanai to watch the beautiful local birds and wildlife. Garage is a collector's dream! This space can house 8+ cars, with room left over for toys and golf cart and large storage area. Dual paver driveways offer additional parking for guests. This home has been lovingly maintained and updated. New AC units in 2019. Exterior painted 2020. 2021 updates include: garage door openers, whole house dehumidifier. Rear windows and doors have added electric Category 5 storm force hurricane shutters.
Legends Bay is a gated community situated along Sarasota Bay and 6 1/2 miles from famous Florida gulf beaches. IMG Academies is just a short drive away. Drive your golf cart to BTC Tennis and IMG Golf and Country Club with flexible social and full-time memberships. Sarasota/Bradenton International Airport is 12 minutes away; Tampa International is a 50 minute drive. Quaint downtown Bradenton is 4 miles from here and downtown Sarasota with entertainment venues and local and fine dining is just 10 miles.
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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