1 Erlynn Place
About This Property
The heart of the home features an open floor plan with hardwood floors and a beautiful kitchen boasting quartz counters, a marble backsplash, and stainless steel appliances. You will love the ~2017 addition, which includes a spacious family room with a slider out to a relaxing deck and peaceful yard with a storage shed. The addition also offers a private primary suite complete with a walk-in closet and a full bathroom with a walk-in shower. Added conveniences include a dedicated mudroom with a coat closet and first-floor laundry, central air, a pull-down attic for storage, and a fantastic carport to keep your vehicle out of the elements plus an attached room for additional storage.
PLEASE READ - SPECIAL CONDITIONS: CASH or REHAB LOAN required. The property experienced a burst pipe resulting in some water damage (extent unknown). Heat and water are currently turned off and will not be turned on prior to closing unless the buyer invests in repairing the water lines/heat to qualify for traditional financing.
Property is being sold strictly AS-IS by a legal guardian. The seller will not make any repairs prior to the transfer of title. Additionally, the house is full of personal items that will remain; the purchaser is responsible for clearing out the property after closing.
Low taxes and a highly convenient location. Nothing a little work can't solve. Don't miss this opportunity!
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017