9907 ROYAL PALM DRIVE
About This Property
Inside, you'll find water views from multiple rooms, a spacious living area, and an updated kitchen featuring solid wood cabinetry with soft-close doors and drawers, a built-in pantry, solid surface countertops, and black stainless-steel appliances. The primary suite offers a sitting area, walk-in closet, and a beautifully remodeled en-suite bath with an oversized walk-in shower. Two additional bedrooms and an updated guest bath provide plenty of space for family and guests. The screened and covered lanai overlooks the canal and creates the perfect space for relaxing or entertaining while enjoying frequent visits from dolphins and manatees. The 64-foot WearDeck dock is designed for serious boaters and includes a 10,000-pound covered boat lift, updated dock electrical service, fish cleaning station, bench seating, ladder, and LED dock lighting. With no bridges to open water, you'll enjoy quick access to Palma Sola Bay, the Intracoastal Waterway, and the Gulf.
Recent improvements include a new roof (2024), remodeled primary bath (2024), remodeled kitchen and guest bath (2023), fresh interior and exterior paint (2024), WearDeck dock (2022), impact-rated PGT windows and exterior doors (2016), screened paver lanai (2017), HVAC (2016), new blower motor (2025), new heater (2026), and new compressor (2026). Located approximately two miles from the Gulf beaches, this property is ideal as a primary residence, seasonal home, or investment property with excellent short-term rental potential. Most furnishings are negotiable. Schedule your private showing today and experience everything this exceptional waterfront property has to offer.
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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