5519 SE Reef Way
About This Property
The Reef is a neat & clean community,w/ 2 tennis courts, easement to the water & is pet friendly. The association fee covers common areas, gate and street lights. There is no approval process, just an info sheet to the hoa. Association: No approval process. Buyer will need to complete an application sheet for the hoa for informational purposes.
Vehicles: No boats, no RV's, no commercial trucks.
Association covers unmanned gate, common areas including irrigation for common areas. There is 1 tennis court and a shared tennis court.
Water access: There is a community easement on Bow Sprit with launch space for a paddleboard/kayak.
FAQ's for auction are provided in documents.
Pets: Max 4 (dogs, cats, tropical fish, birds) Dogs on leash at all times outside of house.
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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.
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About Port Salerno
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017