7427 Morningside Drive
About This Property
In the kitchen and bathrooms, you will see the beautiful granite countertops and white cabinetry that has brushed nickel hardware. The primary bathroom has a large closet with ventilated shelving and a dual sink vanity. The kitchen has stainless-steel appliances including a stove, microwave, and dishwasher with center island is open to the large living room and dining area. Three additional rooms are located off the front entry hall as well as a laundry room.
Morningside is a great choice for military personnel working at Tyndall Air Force base as it is only about a 15-minute drive away. Morningside is located off Highway 231 making it a short drive to shopping, food, schools, and the beautiful beaches of Panama City Beach.
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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