623-B BAYSHORE DR
About This Property
Large doors and windows allow natural light to flood in. New siding, roof and balcony. Spacious outdoor living with a new deck and retractable awning. New bulkhead with extended 45 ft long pier, boat lift and jet ski lift. Rare large 2 car garage with cabinets for storage, extra refrigerator and an attic. Also, new garage door and epoxy coated garage flooring. Newly resurfaced driveway with the convenience of 2 additional parking spaces. Gas fireplace with remote in Living Room. TV Home entertainment system.
Smart home with control of doors, lights and alarm system. No HOA. Seize the opportunity to see an exquisite sunset every night and claim your piece of the Ocean City life!
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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 |
|---|---|---|---|
| Oct 11, 2024 | Sold | ||
| Sold | |||
| Aug 29, 2024 | In contract | - | |
| In contract | |||
| Jun 7, 2024 | Listed by Cummings & Co. Realtors | $1,500,000 | |
| Listed by Cummings & Co. Realtors | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017