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11006 WILLOW BOTTOM DRIVE
About This Property
The large home supplies four gathering spaces for family and guest recreation and conversation. Two of the four upper level bedrooms are now furnished as studies or offices. The Lower Level contains an ample bedroom and full bath, in addition to the large recreation room with a free billiard table and light. This space could easily be visioned as an apartment unto itself.
A stone walk leads from street to hospitable covered entry and the magnificent, heavy detailed front door. The foyer affords a light-filled look through to the beautifully landscaped yard and golf course.
The updated "cook's kitchen" has granite counter tops, a five burner gas cook top, a conventional/convection wall oven, a pantry, and features a pass-over bar to the breakfast room. The dining room is worthy of "state dinners" but has more often served 12-18 friends and family folk. It features 3 deep windows, all dressed in lovely draperies. After dinner conversation can move to the Library where there is a view to the golf course, beautiful gas fireplace, and a cozy space.
The Living Room is large, with a high cathedral ceiling faced in wood, clerestory windows shedding light and a window wall looking to the back yard and golf course.
A short flight up to the four bedrooms, and a short flight down to the fifth bedroom and beautiful billiard room, with yet another walkout to a stone patio and the back yard. The billiard table will convey with the home. The master suite features a large, luxury bathroom, fitted closets, a five piece bath including a bidet, and a skylight.
A key condition for this transaction is that the seller wishes to remain the occupant of the property until December 3. The preferred situation would be to sell and settle the property soon or in early November, and have the transfer of occupancy occur between December 3 and December 31, 2021.
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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%.
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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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About Columbia
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017