39
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5620 Pinetree Avenue
About This Property
This home is hands down the best value in the whole neighborhood!
The Happy Pelican Cottage is walking distance to the beach and The Grand Lagoons main attractions including: the Pirates Cove Marina, access to dolphin tours, jet skis, pontoon boats, fishing charters, the Sea Screamer, the Sea Dragon Pirate Cruise, St. Andrews State Park, the Navy base, grocery stores, public boat access (one is only a block away), and many of the top restaurants on the entire beach are all within a 5 minute drive.
This is a prime location home that is tucked away on the quiet east end with a tranquil, oversized backyard complete with a covered porch and there is an extended driveway that could easily house a boat, RV or possibly both!
There are extra storage areas, laundry, and a half circle driveway with a carport. This property has no HOA and comes fully furnished so it is turnkey and rental ready if you so desire.
Don't miss your chance to own this special piece of property in a very desirable location off South Lagoon that is priced to sell! Bring us an offer!
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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 |
|---|---|---|---|
| Sep 2, 2026 | In contract | - | |
| In contract | |||
| Aug 29, 2026 | Price Decreased |
$350,000
↓ $15K
(4.1%) | |
| Price Decreased | |||
| Aug 3, 2026 | Price Decreased |
$365,000
↓ $14K
(3.7%) | |
| Price Decreased | |||
| Apr 1, 2026 | Listed by LPT Realty LLC | $379,000 | |
| Listed by LPT Realty LLC | |||
| Apr 10, 2025 | Price Decreased |
$399,000
↓ $23K
(5.5%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017