665 Forsyth Street
About This Property
The main house features 2 bedrooms and 2.5 baths, with an open floor plan downstairs. The renovated kitchen serves as the heart of the home, seamlessly connecting the living and dining room on one side and an informal dining area on the other. Two open patiosone off the kitchen area and the other off the living roomoffer additional relaxation spaces. Upstairs, both bedrooms boast ensuite bathrooms, with the master suite located at the rear of the house, featuring a large balcony overlooking the backyard. The master bath has been tastefully renovated and expanded.
The attached apartment is completely private, with its own driveway, gated entrance, and patio areas, making it ideal for generating additional income or hosting guests. Situated in an excellent location, just minutes away from fantastic restaurants, shopping, and the beach, this home offers convenience and comfort.
Additional features include a 2022 kitchen renovation with white cabinets, granite countertops, and an island, a water heater installed in 2014, two AC units from 2011 and 2015, a mini-split AC in the apartment added in 2018, a remodeled roof from 2016-2017, all hurricane impact windows (with panels for two in the living room and one in the upstairs guest bath), new hurricane impact skylights, a hurricane impact garage door, and exterior painted in March 2022.
The owner is open to considering owner financing with 50% down and offers a short-term 6-month rental option.
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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 |
|---|---|---|---|
| Apr 1, 2024 | Sold | ||
| Sold | |||
| Feb 23, 2024 | Listed by Tropical Springs Realty | $850,000 | |
| Listed by Tropical Springs Realty | |||
| Dec 24, 2022 | No longer available | - | |
| No longer available | |||
| Dec 23, 2022 | Relisted | $1,495,000 | |
| Relisted | |||
| Sep 13, 2022 | No longer available | - | |
| No longer available | |||
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About Delray Manors
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017