SELLER OFFERING UP TO $20,000 IN CONCESSIONS WITH AN ACCEPTABLE
OFFER! Use it toward closing costs, an interest-rate buy-down, or
put it toward creating your own backyard oasis with a pool! Seller
has obtained a preliminary estimate of approximately $58,900 for a
12' x 24' pool package, including concrete coping, 700 SF of paver
decking with deco drain, natural-gas heater & Jandy salt
system-giving buyers the opportunity to customize their own pool
while taking advantage of the seller concession. BETTER THAN NEW in
gated Cove Royale Coastal Madison model on a desirable corner
lot w/water views, room for a private pool & community pool just
steps away. This 3BR + Study/Flex, 3.5BA home features soaring
12-15' ceilings, Mohawk RevWood floors & designer kitchen w/
stacked shaker cabinetry, Cambria quartz, zellige backsplash,
GE Profile appliances, gas cooking & walk-in pantry. Custom
fireplace wall, impressive primary closet, upgraded BAs, large
laundry & screened lanai. CBS construction, impact glass, natural
gas, fenced yard, cabana BA & epoxy garage. No CDD & low HOA!
Move-in ready w/over $250K builder & aftermarket upgrades already
completed-skip the wait, expense & hassle of building and start
enjoying the Florida lifestyle from day one! Thoughtful design
continues throughout this beautifully appointed home. The
open-concept kitchen, dining & great room create an inviting space
for entertaining, while expansive glass doors provide a seamless
connection to the covered, screened lanai & backyard. The
spacious primary suite offers a private retreat highlighted by a
beautifully upgraded bath & exceptional custom-designed walk-in
closet w/ extensive built-in cabinetry, drawers, shelving & hanging
space. Two additional BRs & the dedicated Study/Flex Room provide
versatility for guests, or working from home. The generously sized
laundry room offers additional cabinetry, quartz countertops,
utility sink & excellent storage. Outdoor living offers
tremendous potential. The fenced backyard provides ample space to
design & add a private pool, while a cabana bath makes the home
especially well suited for a future pool. Covered front & rear
porches provide additional areas to relax & enjoy the Florida
lifestyle. Additional features include a cement tile roof,
hookups for a future generator & pool heater, plus an oversized
corner driveway accommodating approx. 5-6 vehicles. What
truly sets this home apart from starting over w/ new construction
is everything that has already been thoughtfully selected &
completed. From designer finishes & custom improvements to window
treatments, landscaping & functional upgrades, the investment of
time, expense & decision-making has already been made. Enjoy
the privacy of a gated community, the convenience of the nearby
community pool & a beautifully finished home that is ready to enjoy
now. An exceptional opportunity to own a highly upgraded Coastal
Madison in Cove Royale without waiting to build.
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.
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