862 SUMMER BAY Drive
About This Property
Beautifully maintained and nicely upgraded, this home offers 3bd/2ba plus an additional office and a spacious 2,283 square feet of heated and cooled space. Interior features include plantation shutters and crown molding throughout, tile floors in the main living area, a living room with great views and beautiful built in's and seat bench, an open kitchen with plenty of cabinetry and instant hot water, an office with custom built ins and an interior laundry with plenty of storage. Additional features include an updated master bathroom, new A/C in 2015 with UV light and on a maintenance program, new water heater in 2013, and a termite bond with Florida Pest Control.
On the exterior you will find an extended lanai with beautiful lake and golf views, a new roof in 2015, paver driveway, and all located in Marsh Creek where the lawn care and maintenance is included in your association fees making this a great lock and leave home for those that travel and want low maintenance living. Club membership is optional, there are two 24 hour manned gates, the beach is 5 minutes away, downtown is 10 minutes away and restaurants and shops are all close by.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 1, 2020 | Sold | ||
| Sold | |||
| Nov 13, 2019 | Listed by BERKSHIRE HATHAWAY HOMESERVICES FLORIDA NETWORK REALTY | $469,900 | |
| Listed by BERKSHIRE HATHAWAY HOMESERVICES FLORIDA NETWORK REALTY | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017