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616 CHANNING DRIVE
About This Property
Discover this inviting contemporary residence nestled in the desirable Hidden Grove community of Palm Harbor. This well-maintained single-family home offers 1,903 square feet of living space, featuring a functional split-bedroom floor plan, soaring cathedral and vaulted ceilings, and an open-concept kitchen that flows seamlessly into the family room.
The home's exterior is highlighted by a private, screened-in pool area that serves as an excellent space for relaxation or outdoor entertaining. A unique advantage of this property is the opportunity to significantly expand the backyard, as the existing fence can be relocated back to the property easement to provide ample room to create a much larger private outdoor oasis.
This residence has been thoughtfully updated over the years to provide peace of mind for the next owner, including windows replaced in 2012, a roof replaced in 2015, and an HVAC system replaced in 2021. Furthermore, the water heater, main power panel, and atrium paneling were all replaced in 2022.
Ideally located, residents enjoy proximity to top-rated schools, local shopping, and the serene lifestyle that Palm Harbor is known for. With its combination of modern updates, private pool, and potential for expanded outdoor living, 616 Channing Drive is a rare opportunity to own a comfortable and reliable home in a fantastic location.
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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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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017