631 Normandy ROAD
About This Property
Situated on a generous lot, this property boasts an impressive 60 feet of waterfront access along a deep and navigable canal. Imagine the possibilities that await as you explore the potential of this prime location. Renovate and revitalize the current structure, embracing its original charm while incorporating modern amenities, or embark on a brand-new construction project designed to your exact specifications.
Beyond the boundaries of this magnificent property lies the vibrant coastal community of Madeira Beach, renowned for its pristine sandy beaches, eclectic shops, and enticing dining options. With easy access to the beloved John's Pass, you'll find yourself just moments away from a world of entertainment, leisure, and indulgence.
Opportunities as exceptional as this are few and far between. Don't miss your chance to secure this coveted investment, poised to deliver substantial returns. Unlock the true potential of this Madeira Beach gem and pave the way for a future of prosperity and success.
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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 |
|---|---|---|---|
| Jul 17, 2023 | Sold | ||
| Sold | |||
| May 25, 2023 | Listed by SEASALT PROPERTIES | $799,000 | |
| Listed by SEASALT PROPERTIES | |||
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About Madeira Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017