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7535 CASTLE DRIVE
About This Property
This home is already equipped with big-ticket upgrades: a 2022 roof, fully paid-off solar panels, and two high-efficiency Friedrich Breeze AC units/heat pumps (with 10-year warranties). The property is on septic, solar, and well complete with a water purifictaion system offering modern off-grid potential.
Now, imagine the ultimate outdoor paradise. An oversized pool and tropical hot tub anchor the expansive screened-in area. An L-shaped covered section intertwines with an over-the-top gazebo, providing ample shaded space for lounging or hosting. Sun-drenched areas flow seamlessly into the two-acre lot, creating a truly tropical entertainer's dream.
Anchoring the property is a breathtaking lake/waterway that takes this estate to an entirely different level, with the property line extending approximately halfway into the water-offering not just a view, but true ownership and control of this incredible natural feature. Teeming with fish and surrounded by native Florida wildlife, the setting feels like your own personal preserve. There is also ample opportunity to enhance the experience even further with the addition of a custom dock or waterfront sitting area, creating the perfect space to fish, entertain, or simply take in the peaceful surroundings.
The location is unbeatable. Less than a mile from Fruitville Road, under two miles from I-75, and just a few short miles to Lakewood Ranch's waterfront. Downtown Sarasota is a straight shot for shopping, dining, and entertainment. The last comp-smaller and without a pool-sold at $1M, placing this well under market value. Bring your vision inside-this gem won't last!
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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