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6014 BORDER LANE
About This Property
The home is ready to move into and features a split floor plan, granite and stainless-steel kitchen with adjacent breakfast room and pantry, plus a relaxing covered and screened patio. Additionally, the home has modern-era baths and kitchen, a central office, 2022/2024 roof, new water heater, partially fenced 1/4 acre lot, two separate driveways, and an oversized garage. The upstairs portion of the garage (14' x 24') could potentially be configured to accommodate a rental apartment, playroom, additional bedroom, or storage and could really add a lot to this great home! Located just a short distance from the unspoiled beauty and walking trails, kayak launch, and fishing docks of the Phillippi Estate County Park that features a wonderful seasonal weekly farmer's market! This great property is only .9 miles to Siesta Key and about 1.2 miles to beach access #12. This is walkable to restaurants, shops, places of worship, and is only about 5 miles to downtown Sarasota! No HOA or deed restrictions here so bring your boat or RV and take advantage of this great location very near to Siesta Key and in the center of all that Sarasota has to offer. Priced below recent appraisal!
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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%.
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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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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017