Waterfront Condo in Gated
725 Miller Avenue #137 Freeport, NY 11520
For Sale
$420,000
Two-bedroom condo with waterfront views and community amenities.
Property Size1,010 SF
Price / SF$415.84
Days on Market372
Property Features for 725 Miller Avenue #137
General Information
Standard status
Active
Size
1,010 SF
Property subtype
Condominium
Building Details
Year Built
1985
Listing Agency:
Greater Nassau, NY
(516) 633-7874
Listed By:
Betty Bennafield · License #10401298782
(516) 633-7874
Source:
Kw
Added: Jul 23, 2025
Changed: Jul 6
Last Checked: Jul 28 at 1:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Greater Nassau, NY
Investment Insights
Based on property information with market context.
This two-bedroom, two-bathroom condo offers waterfront living within the gated Freeport community. The unit features an open-concept living and dining room. A balcony provides space to enjoy the scenery. The primary suite is spacious enough for a king-size bed. A laundry closet includes a stackable washer and dryer. The unit's location provides convenient access to the pool, hot tub, gym, tennis court, and community room. The development provides a secure living environment with a main entrance security guard, cameras, and a live-in superintendent. Pets are welcome. Freeport Electric provides electricity, known for lower rates. The property has low taxes and HOA fees.
Key Highlights
- Waterfront location in an exclusive gated community.
- Convenient access to community amenities: pool, hot tub, gym, tennis court, and community room.
- Secure living environment with security guard, cameras, and live‑in superintendent.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.3k | $33.96 |
| − Vacancy | −$1.5k | −$1.53 |
| EGI | $32.8k | $32.43 |
| − OpEx | −$14.7k | −$14.59 |
| NOI | $18.0k | $17.84 |
1,010 SF · lease $33.96/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$257.4K
$225.2K – $300.3K
NOI $18,016 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$667.8K
$584.3K – $779.1K
NOI $46,745 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Two-bedroom condo with waterfront views and community amenities.
Where is this apartment building located?
The property is located at 725 Miller Avenue #137 Freeport, NY.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Waterfront location in an exclusive gated community.; Convenient access to community amenities: pool, hot tub, gym, tennis court, and community room.; Secure living environment with security guard, cameras, and live‑in superintendent.
