700 TROPICAL CIRCLE
About This Property
Extensive structural and functional UPGRADES include a NEW ROOF, NEW STORM RATED WINDOWS AND SLIDERS, NEW DRAIN PIPES, and NEW PVC water lines. Transition through impact-rated glass sliders to a sun-drenched lanai and a new paver deck featuring a pool with all-new pool equipment. The backyard is a secluded tropical retreat bordered by a thick mangrove canopy for total privacy, offering direct water access for kayaking. Beyond the property, you are just minutes from the world-famous white sands of Siesta Key Beach, the vibrant dining and boutique shopping of Siesta Key Village, and a short drive to the cultural heart of Downtown Sarasota. From the designer finishes to the total structural renewal, this home offers security and luxury in a premier, verdant location. Call to set up a showing ~
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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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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017