951 Iris Drive
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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.
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 |
|---|---|---|---|
| Mar 12, 2025 | Sold | ||
| Sold | |||
| Feb 6, 2025 | In contract | - | |
| In contract | |||
| Feb 1, 2025 | Listed by Douglas Elliman | $4,500,000 | |
| Listed by Douglas Elliman | |||
| | |||
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Luxurious Waterfront Estate in Tropic Isle - Minutes from Downtown Delray BeachLocated in the exclusive Tropic Isle community, just minutes from the vibrant downtown Delray Beach and its renowned beaches, this custom 5-bedroom (with optional 6th), 5.5-bath estate embodies the pinnacle of luxury waterfront living. Set on a deep-water canal just three lots off the Intracoastal, the home welcomes you with soaring double-height ceilings and sweeping water views, creating an immediate sense of tranquility and grandeur.The gourmet chef's kitchen is a true showstopper, featuring an oversized island, top-tier Thermador and Sub-Zero appliances, a walk-in pantry, and a wet bar--ideal for both intimate gatherings and grand entertaining.
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| Jul 15, 2014 | Sold | ||
| Sold | |||
| Apr 25, 2013 | Listed by Mizner Grande Realty LLC | $2,318,000 | |
| Listed by Mizner Grande Realty LLC | |||
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About Tropic Isle North
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017