7426 Thomas Drive
About This Property
This spectacular, fully furnished beach house offers the ultimate coastal living experience, boasting an inground private pool and almost 2400 sq ft. of living space spread over three bedrooms and three and a half bathrooms. The top loft level is currently utilized as an additional living area and a fourth bedroom, offering versatile space for guests.
The spacious living room, featuring a cozy fireplace, seamlessly flows into the chef's kitchen, creating an inviting atmosphere for relaxation and entertainment. A charming entryway cabinet off the secondary entrance on the first floor provides convenient storage for guests' shoes and belongings. There is also a spare bedroom equipped with a queen bed and private ensuite bathroom on the first level.
The primary bedroom, located on the second level, includes a private balcony and a lavish ensuite bathroom with granite countertops, a walk-in tiled shower, and a jetted tub. Also on the second floor, an additional bedroom features two double bunk beds and an ensuite bathroom, making it ideal for children and additional guests.
The third level contains two double bunk beds and a pull-out couch for added sleeping space, a wet bar with a sink and dishwasher, and a half bath. The top deck offers unobstructed views of the Gulf of Mexico and Rick Selzer Park, where you can enjoy easy access to Panama City Beach.
This meticulously maintained beach house comfortably accommodates 15 guests with 10 beds, making it a lucrative option for vacation rentals or a personal getaway. Recent updates include two newer HVAC units, luxury vinyl plank flooring in the bedrooms, three hurricane rated exterior doors, new refrigerator and interior paint (2024), durable washer and dryer (2021), full metal roof replacement (2020) along with new deck boards on the third story sundeck, pool resurfaced and new plaster (2022), and new tankless water heater (2023).
Enjoy the freedom of no homeowner association (HOA) fees. Located in flood zone X, this property does not require flood insurance. Don't miss the opportunity to experience this exquisite property. Schedule your private viewing today and embrace the luxury of coastal living at 7426 Thomas Drive.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017