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7867 Waterfall Terrace
About This Property
The kitchen is quite spacious and includes new appliances such as a microwave and stove. The convenience of a washer and dryer is provided in a laundry closet located off the kitchen. The primary bedroom features two walk-in closets, offering ample storage space.
One of the standout features of the property is the private screened lanai, which was built in 2021 and features a tile floor. This outdoor area allows for comfortable relaxation while enjoying the waterfront view.
Several updates have been made to the house: a new roof was installed in June 2023, and the air conditioning system and water heater were both installed in 2017. Additionally, the driveway was repaved in 2016, improving its appearance and functionality. Accordion shutters are present throughout the home, providing protection during inclement weather.
A unique aspect of the property is that part of the garage has been converted into a workroom, previously serving as a dark room for the seller. However, it can be easily converted back into its original garage space if desired.
Residents of this development have access to clubhouse amenities, including an indoor/outdoor pool, a theater, pickleball and tennis courts, billiards, and a cafe that serves breakfast and lunch. These amenities contribute to a vibrant and active community lifestyle.
In conclusion, this waterfront property offers not only a desirable location but also a range of features and updates that enhance its appeal. The spacious interior, private screened lanai, and various community amenities make it an attractive option for those seeking a comfortable and enjoyable living experience.
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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%.
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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.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
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Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Apr 24, 2024 | Sold | ||
| Sold | |||
| Dec 21, 2023 | No longer available | - | |
| No longer available | |||
| Dec 21, 2023 | Listed by EXP Realty LLC | $505,000 | |
| Listed by EXP Realty LLC | |||
| Aug 3, 2023 | Listed by One Step Ahead Realty, Inc | $530,000 | |
| Listed by One Step Ahead Realty, Inc | |||
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Spacious airy 3-bedroom 2-bathroom well maintained home. Tiled throughout with a magnificent long lake view.Large formal dining and living room boasts sky-lights and high cathedral ceilings. Sizable kitchen with two pantries. Microwave & Washer-Dryer are less than 6 months old.Main bedroom has 2 walk-in closets. Main bathroom has separate bath & shower. 3rd bedroom is being used as an office.Huge private screened and tiled patio/lani with a beautiful view of the and tranquil lake (Patio built 2021)New roof June 2023.AC & Water Heater installed in 2017.Driveway repaved in 2016, Accordion Shutters Throughout.Was the original builder's model home.Club amenities include: Cafe for breakfast and lunch. indoor and outdoor pool, theatre, pickle ball, tennis, billards. The manager has listed the unit size as 2187 square feet.
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| Nov 30, 1993 | Sold | ||
| Sold | |||
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About Palm Isles
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017