108 WATER STREET
About This Property
PRICE REDUCED!
Only property within 1/2 mile of the square corner downtown listed for less than $300k.
Cute and cozy, this house is located 1/2 block from the MARC Rail/Bus station and 1/2 block from Carroll Creek. Set behind the train station, this house is on a short street that ends in a T-cul-de-sac. Almost no traffic. This one is truly location, location, location, and also has some nice upgrades. The first floor, original hardwood floors have just been refinished and a closet in the upstairs sitting room was redesigned to fit a washer/dryer combo. New appliances in the kitchen, new lighting fixtures in the downstairs. The exterior is scheduled to be painted early in April, and other repairs/upgrades are ongoing (lower cabinet corner doors, exterior door into crawl space to be painted, cracked window fixed after exterior painting), so this is a move-in ready sanctuary with easy access to major highways and easy walkability to all downtown Frederick has to offer!
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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%.
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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.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017