78 Terra Cotta Way
About This Property
The third bedroom enjoys direct access to the third bathroom, which also opens to the hallway for added convenience. The spacious bunk room, currently utilized as an office, offers generous versatility and can easily adapt to suit your needs.
Outdoors, the property transforms into a private resort with a sparkling heated saltwater pool, cool deck surround, privacy fencing, a side patio ideal for dining and entertaining, and a multi-zoned sprinkler system. Additional upgrades include a 2025 concrete tile roof, 2023 water heater- ensuring a truly wonderful experience. The driveway hold 3 vehicles.
This home is equipped with Miami-Dade-approved hurricane protection, providing top-tier safety and peace of mind during storm season and showcasing impact standards, ensuring year-round durability and reduced insurance costs.
For added convenience, the property includes two outdoor storage closets - perfect for keeping beach gear, bicycles, sports equipment, gardening tools, or any other items you want easily accessible yet neatly tucked away.
Additionally, the home is future-ready with a dedicated receptacle for a Level 2 electric vehicle (EV) charger. Whether you already own an EV or plan to in the future, the setup is in place to support fast and efficient home charging.
One of the most appreciated features of Terra Cotta Terrace is that the community streets are not used as "cut-through" routes. This ensures a quieter, more exclusive atmosphere and perfect for morning walks, bike rides, and a true sense of neighborhood serenity. Residents also enjoy exceptional amenities such as a clubhouse, community pool, tennis and pickleball courts, sand volleyball, and proximity to a new on-site restaurant (see picture), all just steps from the private gated beach access across Scenic Hwy 98. Ideally positioned near beachfront dining, boutique shopping, championship golf, world-class fishing, Destin Commons, and Silver Sands Premium Outlets, this home offers an unparalleled blend of luxury and location. More than a residence, 78 Terra Cotta Way is a coastal retreat designed for effortless living and unforgettable moments - a destination where families, friends, and vacationers will never want to leave.
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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