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603 N Cypress Drive
About This Property
Framed by a timeless barrel tile roof, double front doors, and impact windows and doors, the home is wrapped in lush landscaping and highlighted by exterior LED lighting that creates a beautiful evening ambiance. Inside, custom details stand out, including pecky cypress accents, custom molding, and a refined mix of wood and marble flooring.
The layout includes three bedrooms plus an office, along with bright and spacious living and dining areas. The luxurious chef's kitchen anchors the home and flows easily to the outdoor living spaces. A built-in Bose surround sound system adds immersive sound throughout your entertainment zones.
Step out back to a private resort setting that features a heated pool inside a Florida enclosure, a relaxing hot tub, a covered patio, and a 500 square foot indoor and outdoor flex room off the pool that is perfect for gatherings, workouts, games, or future expansion.
A standout feature of this property is the garage configuration. Buyers can choose between enjoying a traditional two car garage with a full flex space under air, or car enthusiasts can use the entire setup as a four car garage. The flex space is fully air conditioned and can be used as an office, gym, studio, guest room, workshop, or anything you can imagine. There is also room on the property for a boat and RV.
With its oversized pie shaped lot, luxury finishes, impact protection, flexible living spaces, and rare garage versatility, this Tequesta home stands in a category of its own. Homes with this level of opportunity almost never reach the market. * See in listing photos AI generated images to show potential of flex space *
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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 Cypress Ridge
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017