10 Viola Road
About This Property
This family has owned the land for over 60 years! So many beautiful memories were created swimming in the ponds, fishing, playing in the yard, riding bikes along the paths and exploring the undeveloped portions of the grounds. There's something special about being able to "go out on the water" . . . or just sit in awe at the beauty of the swans and blue heron and other wildlife that find their way there.
Currently, the property enjoys three structures: the original home, a guest house and a free standing three car garage with a one bedroom apartment above. There's over 7,400 SF of finished living space throughout the three structures, and if any of the 8 garages are converted, there would be substantially more.
The site, although breathtaking as is, would make the most magnificent development site. Create the luxury retreat of your dreams and enjoy it for decades to come. Located in the RR-50 zone, the subdivision would be as of right.
At the rear of the property, there is an undeveloped driveway that leads to an existing curb cut on Gristmill Court. There are utilities already in place because of the existing three car garage, and there's a transformer box located at the back tree line if there's ever a need for additional power.
Imagine a long, tree-lined driveway that comes off of Gristmill and opens to this unique parkland. Imagine consulting your architect and designing a one of a kind estate home and then picture your backyard with these two ponds and unobstructed views of the Ramapo Mountains. If you can't see it, let me show you. Your guests will stay in the homes across the pond and everyone will enjoy their privacy.
I urge you, don't miss this once in a life-time opportunity.
Be certain to click the virtual tour link for the full property website inclusive of full photo gallery, floor plans and interactive walk through. Additional Information: Amenities:Guest Quarters,Stall Shower,Storage,ParkingFeatures:2 Car Attached,3 Car Attached,3 Car Detached,
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Dec 12, 2024 | Sold | ||
| Sold | |||
| Sep 24, 2024 | In contract | - | |
| In contract | |||
| Sep 2, 2024 | No longer available | - | |
| No longer available | |||
| Jul 18, 2024 | Listed by Keller Williams Valley Realty | $4,200,000 | |
| Listed by Keller Williams Valley Realty | |||
| Feb 18, 2023 | No longer available | - | |
| No longer available | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017