78 Stingray Street
About This Property
The interior of this home is both airy and bright, with an open floor concept. Another characteristic of this home is the extraordinary wood accents throughout; from stunning whitewash ceiling to rustic accent walls, the craftsmanship is eye-catching.
Another noteworthy feature is the chef kitchen that features crisp custom cabinetry with soft-closing hinges, stainless steel appliances, and a large 36' gas range.
With functionality at the forefront during the design process, 78 Stingray offers a massive 12 x 9 owner's closet. Having an extra-large owner's closest is a rare commodity. Having a dedicated space to store linens and other essential items associated with a rental property's operations becomes exceptionally resourceful. This space is heated and cooled and could quickly be converted into an 8th bedroom.
The 50' x 150' lot allows for a large seven-bedroom house while maintaining an impressive backyard. This backyard features a covered L-shaped lounge area with a built-in grill plumbed with gas; this space also features a dining table ideal for lunch, poolside. This backyard oasis also comes equipped with a large 13 x 26 heated pool.
Another notable feature is that this property is located less than 750' to the Gulf of Mexico, making this an ideal investment or 2nd home.
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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