Beautifully updated 3-bedroom, 2.5-bath home on a level .99-acre
lot in Patterson Woods! A completely rebuilt kitchen showcases
quartz countertops, a center island, stainless steel appliances,
double convection ovens with air-fry capability, Zellige
herringbone tile backsplash, under-cabinet lighting, crown molding,
a champagne bronze faucet, and Pottery Barn lighting. A walk-in
pantry with custom wood shelving and a breakfast area add everyday
convenience. Refinished oak hardwoods flow throughout the first
floor, including the dining room accented by crown molding, chair
rail, and a tray ceiling. The inviting living room features crown
molding, a gas fireplace, built-in bookcases with closed storage,
and a wall of windows overlooking the backyard. Upstairs, the
primary suite offers a vaulted ceiling and two walk-in closets with
built-ins. Its private bath includes a dual vanity, tiled walk-in
shower, soaking tub, and separate water closet. Two secondary
bedrooms, a versatile bonus room, and a hall bath with dual vanity
provide comfortable space and flexibility. Crown molding throughout
the second level adds a polished touch, while the laundry room
features storage and a utility sink. Enjoy outdoor living on
the screened porch with a beadboard ceiling or the adjoining deck,
with a play area and firepit area adding to the spacious backyard's
appeal! Notable improvements include a roof replaced in 2021; a
natural gas water heater, leaf guard gutters, Ring doorbell, and
smart thermostats on both floors added in 2025; and an EV charging
station installed in the garage in 2024. Enjoy the neighborhood
pool and convenient access to US 1, downtown Youngsville, and
downtown Wake Forest!
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.
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