6412 Tower DRIVE
About This Property
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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%.
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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.
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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 6, 2025 | Price Decreased |
$299,999
↓ $5K
(1.6%) | |
| Price Decreased | |||
| Jun 29, 2025 | Price Decreased |
$305,000
↓ $10K
(3.2%) | |
| Price Decreased | |||
| Jun 18, 2025 | Listed | $315,000 | |
| Listed | |||
| | |||
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Beautifully maintained 2-bedroom, 2-bath manufactured home (land owned) on premium waterfront property. Two wide and deep canals converge behind this home creating expansive water views and some of the best fishing in the area, and a 128 acre bird sanctuary offers privacy and wildlife. Located minutes by kayak from open Gulf waters and a sand bar, this home is perfect for boaters and nature lovers.
Inside, spacious rooms, tall ceilings and lots of windows create an open light vibe. High end upgrades include 20 mil wear layer rigid core luxury vinyl plank flooring throughout, solid birch cabinetry, granite countertops, and stainless steel appliances. Both bedrooms are impressively spacious with oversized walk-in closets, and the master bath includes a double vanity, walk-in shower, and generous storage space.
Additional spaces include a work shop, spacious tiled sunroom, 2 covered patios and a bonus area that can be a reading nook or formal dining area.
RECENT UPGRADES include:
• 2025 closed cell foam insulation under the home for energy efficiency and durability
• 2022 double-pane energy-efficient windows
• 2018 roof in excellent condition
• 2018 Covered boat lift, deck and seawall cap
* 2024 3/4" plywood subfloor
ALL work done on this home has been PERMITTED AND INSPECTED.
This home has proven to be a lucrative vacation rental, offering strong income potential for investors or those seeking to offset ownership costs of a second home. (Financial records available on request)
Whether you're looking for a peaceful coastal escape or a profitable short-term rental, this one-of-a-kind waterfront home delivers the ultimate Florida lifestyle. Boat, birdwatch, fish and enjoy stunning sunsets, all from your backyard.
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| Aug 2, 2022 | Sold | ||
| Sold | |||
| May 12, 2022 | Listed by COLDWELL BANKER FIGREY&SONRES | $310,000 | |
| Listed by COLDWELL BANKER FIGREY&SONRES | |||
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About Signal Cove
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017