58 Summit Drive
About This Property
This residential compound features a main home, carriage home, climate-controlled two-car garage, and an expanse of trellis-enhanced decks to enjoy the fabulous natural ambiance, all nestled in the indigenous setting creating an intimate and private feel of being in a tree house. This price-point for such a gorgeous home in a gated, rental-restricted neighborhood, located ~.7 miles from one of Scenic 30A's most preferred beach access parks, is a remarkable value. Please inquire for further details and to schedule a private showing.
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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 |
|---|---|---|---|
| Jul 21, 2025 | Sold | ||
| Sold | |||
| Jul 4, 2025 | In contract | - | |
| In contract | |||
| Jun 6, 2025 | Price Decreased |
$895,000
↓ $100K
(10.1%) | |
| Price Decreased | |||
| Apr 14, 2025 | Price Decreased |
$995,000
↓ $4K
(0.4%) | |
| Price Decreased | |||
| Apr 12, 2025 | Price Increased |
$999,000
↑ $4K
(0.4%) | |
| Price Increased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017