Located on a private, wooded, corner lot in Pleasant Bay Estates,
this home offers so much in terms of the house itself and location,
location, location! In addition to the first floor with
hardwood flooring, three bedrooms and two baths, there is
additional finished space on the second floor (18 x 25 great room
with Fujitsu ductless system, walk-in 11 x 8 closet, sitting area).
This space would also be perfect as a prive in-home office or
studio for artists or musicians! A large fireplaced living
room with bay window, kitchen and dining area leading through
sliders to a deck complete the single-floor living area. A
second driveway gives access to the finished basement with 13 x 24
family room (and a cedar closet under the stairs), a kitchen/dining
area with sliders to a private patio, and workshop (13 x 19) with
plentiful cabinets, a utility/storage area and a half bath. The
one-car garage is loaded with storage cabinets and accessible from
the kitchen. The yard is private with a large shed and garden
areas. Town water and sewer, irrigation system, outdoor
shower......and more! Continental Drive is located off Route
137 where there are shops, restaurants, banks, etc. This is a great
value for anyone needing flexible living and extra room for
entertaining, guests, etc.
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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