809 CARDINAL AVENUE
About This Property
Throughout the main home, natural pine floors, solid pine doors, and exposed wood-beam ceilings add warmth and architectural integrity, reinforcing the authenticity of the log construction. Wood plantation shutters and double-pane hurricane-rated windows enhance both character and efficiency. The main house is topped with a tin roof, a distinctive architectural element that adds durability and timeless appeal.
The fully updated kitchen blends rustic materials with modern functionality, featuring new appliances, a walk-in pantry, and a layout that remains connected to the home's primary living spaces. A stone-faced island with a granite countertop anchors the room, complemented by a stone backsplash that adds texture and depth while reinforcing the home's natural material palette.
The main residence is a detached 1-bedroom guest house, offering exceptional versatility for extended family, guests, rental income, or creative use. The property is zoned multifamily and not subject to HOA restrictions, providing rare flexibility of walking distance to grocery, restaurants, shopping, etc. Updates include new 2023 Bosch and 2025 Trane A/C systems and a whole-house water filtration system serving the property. Outdoor and landscape lighting enhances walkways, stone features, and gathering spaces after sunset. The grounds are a destination in themselves. A stone-paved driveway and expansive parking pads provide ample space for multiple vehicles and guests. A 2.5-car garage with an electric opener, an attached carport, and a built-in workbench provides storage, workspace, and space for hobbies and projects. Mature palms, plumeria, pine trees, and jasmine create a dense canopy that naturally keeps the property 8–10 degrees cooler in the summer, enhancing comfort year-round. Outdoor living is woven throughout the landscape with a fire pit, a horseshoe pit with a spotlight, a woodland swing, and multiple seating areas designed for both quiet enjoyment and entertaining. Additional features include a wood shed with a roof and floor, a generous side yard with room for a pool, and railroad-style fencing with custom stone pillars featuring original artwork.
All of this privacy and craftsmanship is paired with the rare convenience of being minutes to amenities creates a truly distinctive offering that blends nature, flexibility, and location.
This is more than a home - it is a private residential estate defined by craftsmanship, versatility, and a true sense of place.
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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%.
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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.
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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About Palm Harbor
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017