64 Formby Street
About This Property
Built in 2023 and 2024, these stick-built, single-story homes each offer 1 bedroom, 1 bathroom, and 600 square feet of heated and cooled living space. The owners' creativity shines through individual finishes, shiplap details, and thoughtful touches throughout both homes. Open kitchen and living areas, rainfall showers, stacked washer/dryers, and front and rear decks add comfort and function. At 60, a kitchen island, decorative countertops, and a corrugated metal ceiling create character. At 64, vaulted ceilings, upper windows, wood-look counters, and a glass-enclosed tiled shower distinguish the interior.
A separate building combines a workshop for projects, with a studio on the other side ready for a bathroom. An additional shed stores tools and outdoor gear. Gravel parking, sewer service, and lawn irrigation add practicality.
Bring your kayak: nearby Pitts Bayshore Public Park offers public access to Black Creek near its connection with Choctawhatchee Bay. Newer construction, furnished interiors, and two separate homes come together in one sale
Listed By
Payment Calculator
Your Estimated Monthly Payment
Cap Rate Calculator
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 |
|---|---|---|---|
| Nov 3, 2026 | Listed by FIV Realty Co Florida LLC | $460,000 | |
| Listed by FIV Realty Co Florida LLC | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017