616 SE 40TH AVENUE
About This Property
This beautifully updated 3-bedroom, 2-bath home offers 1,712 square feet of living space and features an in-ground pool-perfect for Florida living. The updated kitchen includes modern appliances, a center island with seating, ample cabinet space, and room for meal prep and entertaining.
The spacious living and dining areas are open and inviting, anchored by a charming brick fireplace. The dining room comfortably fits a large table and includes a dual-door closet that can serve as a pantry or additional storage. The primary bedroom features an en-suite bath and generous closet space.
Enjoy pool views from the screened lanai, located just off the main living area. The additional features include a 2-car garage and a detached storage shed. Roof is 2021, AC 2018, Hot Water 2018, Sewer 2018 and Shed 2015.
Conveniently located with easy access to local amenities, golfing, shopping, schools, state parks, Bike trails, restaurants and medical facilities-this property is move-in ready and ideal for those looking to enjoy Florida's outdoor lifestyle. Wired for Generator.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 27, 2025 | Sold | ||
| Sold | |||
| Jun 16, 2025 | In contract | - | |
| In contract | |||
| Jun 11, 2025 | Listed by REMAX/PREMIER REALTY | $299,900 | |
| Listed by REMAX/PREMIER REALTY | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017