647 Riviera Drive
About This Property
4418 sq ft under air, 5452 total sq ft
7/10 of a mile to the beach
Fabulous convenient location, no HOA, no restrictions
2 car garage with paver flooring
Elevator which can accommodate a wheelchair
IP camera
Security system
3 new A/C units (condensers & air handlers), 3 A/C zones
New washer and dryer, alarm system and intercom system
Huge master suite with sitting area, walk-in closet and his/hers baths
Outdoor spiral staircase leading to large master bedroom deck with stunning views
Outdoor built-in grille
Surround sound inside and out
Crown molding
Professional grade vent to outside
Under lighting and interior lighting in custom cabinetry
Advantium, convection and conventional ovens
Granite counters and custom stone backsplash
Long breakfast bar
Wet bar with wine fridge
Impact glass throughout except for doors to lanai area which can be enclosed by accordion shutters
Miami Dade hurricane rated garage door and Miami Dade hurricane rated stone coated steel roof
2 sided marble fireplace in formal living/dining areas with volume ceilings
Saturnia marble floors in formal areas, stairwell and kitchen/family room
Private waterfront pool/spa and large pool deck area
80 ft deepwater dock, wide canal with intracoastal view, minutes from inlet
2 large ensuite bedrooms on 1st floor
Ensuite guest room on 2nd floor with private screened balcony
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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.
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About Lee Manor Isles
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017