Situated on a corner lot in Oakmont with professional landscaping,
lighting and gracious curb appeal is this outstandingly renovated
residence in the ideal community of Pelican Bay. In addition to 3
bedrooms, 3 full baths , family room and office/den with a Murphy
bed, the residence offers a spacious covered lanai with outdoor
kitchen overlooking a heated, saltwater pool with hot tub, floating
sundeck, dual waterfalls and fire feature. The chef's kitchen
features a 12 foot island and 48 inch gas cooktop. The open
flow living room has custom vaulted ceiling detail, the office/den
has a built-in Murphy bed, the fireplaced family room includes a
wet bar. Throughout is the Legno Bastone wide-board flooring,
Sonos sound, Lutron lighting, camera security system and central
vac. The Pelican Bay community is without equal, there's
nothing like it! Beach access with attendant provided beach chairs,
umbrellas, etc., The two private beach restaurants have
indoor and outdoor dining, sports bars and takeout. There are
exercise classes and entertainment both at the beach and at the
community center. There is a top notch tennis program and
pickleball has arrived at Pelican Bay. The Artis Philharmonic
and Baker Art Museum are in the community as well as The Waterside
Shops with restaurants and retail options for all with additional
shopping, restaurants and movies nearby. The Club Pelican Bay
requires separate membership. Buyers to pay the Pelican Bay
Foundation fee of $10,000 at closing.
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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