Waterfront Condo in Gated
For Sale
$420,000
725 Miller Avenue #137, Freeport, NY 11520
Two-bedroom condo with waterfront views and community amenities.
Property Size1,010 SF
Price / SF$415.84
Days on Market464
Property Features for 725 Miller Avenue #137
General Information
Standard status
Active
Size
1,010 SF
Property subtype
Condominium
Amenities
Cable Ready
Electric
Dishwasher
Dryer
Electric Range
Refrigerator
Washer
Water Front, Cable Available, Electricity Available, Sewer Connected
Building Details
Building Size
1,010 SF
Year Built
1985
Listing Agency:
Keller Williams Realty of Greater Nassau
Listed By:
Betty Bennafield · License #10401298782
(516) 633-7874
Source:
Kw
Added: Jul 23, 2025
Changed: Oct 26
Last Checked: Oct 28 at 2:20PM
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 Keller Williams Realty of Greater Nassau
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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
Estimated NOI and Cap Rate
NOI / Yr
$18,016
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,320
$360.3K
Cap Rate 7%
$257,371
$257.4K
Cap Rate 9%
$200,178
$200.2K
Market Conditions
NOI Build-Up for 1,010 SF
Gross rent
$34.3K $33.96/SF
− Vacancy
−$1.5K −$1.53/SF
EGI
$32.8K $32.43/SF
− OpEx
−$14.7K −$14.59/SF
NOI
$18.0K $17.84/SF
Area
Nassau County, NY
Vacancy
4.50%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,320
Cap Rate 7%
$257,371
Cap Rate 9%
$200,178
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.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
315
Businesses Nearby
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Business Placement
Demographics for 11520, NY
45,121
Population
14,912
Households
3
Avg Household Size
39
Median Age
27%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
8,847
Density / Sq Mi
$119,407
Median Household Income
$47,475
Median Earnings
$1,984
Median Rent
$480,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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.
