1100 Cherico ST
About This Property
Outside, an unexpected bonus - your own private, detached casita (accessory dwelling unit)! This 222 sq ft space features a separate entrance, a kitchenette, and a full bathroom, making it the perfect guest suite or income generator. The casita boasts a consistent rental income of $1,500 - $3,000 per month, offering a fantastic opportunity to offset your mortgage or create additional passive income.
The sellers have transformed the outdoor space into a low-maintenance entertainer's dream. Stone pavers and landscaping create a welcoming entrance, while the backyard beckons with lush artificial turf installed by Southern Turf. The reinforced back-left corner is perfect for setting up a fun cowboy pool for those hot Texas days. For added privacy and security, a brand new Corten steel fence and gates were installed in April 2024.
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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 |
|---|---|---|---|
| Jun 6, 2024 | In contract | - | |
| In contract | |||
| May 21, 2024 | In contract | - | |
| In contract | |||
| May 8, 2024 | Listed by Douglas Elliman Real Estate | $719,000 | |
| Listed by Douglas Elliman Real Estate | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017