113 CENTRAL AVE
About This Property
Next, a 750 sq ft Post Office occupies part of the first floor with its own half bath that has been renting since the 1940's! Currently leased for $1442/month. 2 years into 15 year lease with 2.5% increase every 5 years. Post Office may void lease with 24 month notice.
Finally, onto the 2200 sq ft, 2-floor apartment that boasts 5 beds, 2 baths with second floor laundry room. Walk up to large attic, 2 stairways, gorgeous large wrap around porch and full basement. Original hardwood floors and large built in cabinets give this house a unique Colonial atmosphere. There is also a mudroom off the kitchen and a screened in porch off the dining room. The hallway bath was remodeled 2 years ago, other full bath was remodeled 4 years ago, most windows were replaced in the last 5 years, flat roof is 3 years old. Water is shared and paid by landlord. 3 separate electrical boxes. Electric was updated in 2013 but some knob and tube still exists.
Property just one mile to route 42 and Atlantic City Expressway. This is a very unique property in a beautiful neighborhood.
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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 |
|---|---|---|---|
| Oct 3, 2024 | Sold | ||
| Sold | |||
| Aug 19, 2024 | In contract | - | |
| In contract | |||
| Jul 15, 2024 | Relisted | $400,000 | |
| Relisted | |||
| May 21, 2024 | In contract | - | |
| In contract | |||
| May 3, 2024 | Price Decreased |
$400,000
↓ $25K
(5.9%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017