824 MICHIGAN STREET
About This Property
Nestled on a picturesque cobblestone street at the end of a private lane, 824 Michigan Street is a rare gem in the heart of downtown Mount Dora. Built in 2006, this storybook cottage is reminiscent of old-world charm and is part of the enchanting Mossy Oak Cottages-a quaint enclave of just four homes. With its timeless architecture and detached carriage house, this residence beautifully blends classic elegance with modern-day comfort.
Designed with historical character in mind, the home welcomes you with vintage-inspired architectural details, a charming front porch, and screened side and rear porches perfect for relaxing year-round. Inside, you'll find gleaming hardwood floors, crown molding, and an abundance of natural light throughout.
The inviting living room features custom built-in bookcases and a cozy gas fireplace that opens to the dining area-ideal for intimate gatherings. The kitchen boasts white cabinetry, stainless steel appliances, a gas range, pantry, and laundry closet, plus a delightful powder room and reading nook nearby. A versatile bonus room off the kitchen with custom built-ins and a built-in desk is perfect for a home office, library, or sitting room, with French doors opening to the screened back porch.
Upstairs, two spacious bedrooms share a full bathroom with tub and shower. The primary suite offers two closets and French doors that open to a beautifully restored balcony-an idyllic perch for enjoying sunsets, seasonal fireworks or watching seaplanes over Lake Dora.
The detached two-car garage features a fully finished living space on the lower level and a private-entry apartment upstairs complete with a full bath-perfect for generating rental income through short- or long-term tenants, while also offering flexibility for guest accommodations or a home office.
Enjoy the best of Mount Dora living with an easy stroll or golf cart ride less than a mile to downtown's boutiques, cafes, restaurants, parks, and scenic waterfront. Rarely available and rich in character, this home offers a truly special opportunity to own a piece of Mount Dora's charm.
Don't miss your chance to make this one-of-a-kind property your own!
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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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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017