72 Terra Cotta Way
About This Property
Meticulously maintained and solidly constructed Mediterranean-style home in the private, beachside community of Terra Cotta Terrace. This fresh and current coastal getaway is located near the community pool and just a short stroll to the private beach access. With the hallmarks of an ideal beach home like great location, on-trend coastal dcor, ample fresh air living space, and corridor Gulf views, this pristine, never-rented home would make an excellent vacation rental or second home. Vacation rental income projections top $45,000. Concrete block construction and impact windows offer first-rate hurricane protection. Bedrooms are designed for privacy; main living areas are planned for gathering; and all spaces are meant for relaxing. Each bedroom has access to a balcony.
The 1st floor contains a private guest suite with a den that could be used for additional sleeping. The master suite is a luxurious respite with fireplace, balcony access, and spa tub. The kitchen has a timeless aesthetic with cherry wood cabinets, stainless steel appliances, and solid surface countertops. Notable appointments include: hardwood floors, updated baths, double crown molding, and staircase granite flooring. Terra Cotta Terrace is a desirable private community characterized by unique Mediterranean-inspired homes and lush greenery. Community amenities include: private beach access, pool, tennis, and sand volleyball.
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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 |
|---|---|---|---|
| Mar 9, 2020 | No longer available | - | |
| No longer available | |||
| Feb 12, 2020 | Sold | ||
| Sold | |||
| Nov 8, 2019 | Listed | $599,900 | |
| Listed | |||
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Currently under contract with contingencies. Seller still accepting offers as a ''kick out'' clause is in place.Meticulously maintained and solidly constructed Mediterranean-style home in the private, beachside community of Terra Cotta Terrace. This fresh and current coastal getaway is located near the community pool and just a short stroll to the private beach access. With the hallmarks of an ideal beach home like great location, on-trend coastal decor, ample fresh air living space, and corridor Gulf views, this pristine, never-rented home would make an excellent vacation rental or second home. Vacation rental income projections top $45,000. Concrete block construction and impact windows offer first-rate hurricane protection. Bedrooms are designed for privacy; The manager has listed the unit size as 2291 square feet.
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| Oct 15, 2019 | Listed by Keller Williams Realty Destin | $599,900 | |
| Listed by Keller Williams Realty Destin | |||
| Apr 9, 2012 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017