8409 29TH STREET S
About This Property
At the core of the renovation is a fully reimagined, open-concept living space designed to maximize natural light and connectivity. The kitchen was completely remodeled with new soft-close shaker cabinetry, crown molding, oversized drawers, premium hardware, and a substantial quartz island finished with shiplap and a full slab surface. All major kitchen appliances were replaced with high-end LG models, creating a modern, cohesive, and functional heart of the home.
The living and family areas were elevated with new luxury vinyl plank flooring throughout, contemporary lighting, fresh interior and exterior paint-including the garage-and refined architectural details such as upgraded baseboards, shiplap accents, and custom built-in storage. A designer shiplap fireplace with a 50" brushed-nickel ribbon electric insert provides both ambiance and supplemental heat, flanked by floating cabinetry with quartz counters and open shelving for added functionality and visual balance. A custom dry bar with quartz surfaces and lighted glass-front cabinetry further enhances the home's entertaining appeal.
Beyond aesthetics, the sellers prioritized durability, energy efficiency, and storm protection. A new roof installed in January 2025 offers a 130-mph wind rating, algae resistance, and a transferable warranty. Additional blown-in attic insulation significantly improves energy efficiency, while hurricane shutters, Miami-Dade rated fabric protection, a hurricane-rated garage door, and updated exterior lighting contribute to safety and peace of mind.
Outdoor living was equally enhanced. The panoramic screened lanai was rescreened with no-see-um material to preserve long, unobstructed lake views while maintaining comfort. The heated gunite pool features auto-fill functionality and rotating bottom cleaning jets, supported by improved drainage, motion lighting, and refreshed landscaping-creating a private, resort-style environment with serene water and nature views.
Functional spaces received the same level of attention. The laundry room was upgraded with new cabinetry, quartz counters, and open shelving. Bedrooms feature new ceiling fans, updated closets, and modern finishes, while both bathrooms were refreshed with new lighting, hardware, and upgraded shower fixtures. Safety features include sealed 10-year smoke and carbon monoxide detectors installed throughout the home.
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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.
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