113 GRAFFT Lane
About This Property
Outside the home on the remainder of the property is the awe-inspiring, fully landscaped garden featuring a food forest, multiple flower beds and mature trees. Within this space, you will find avocado, fig, plum, lemon and lime trees. An array of herbs is ready for you to utilize in preparing your meals - basil, rosemary, thyme and more. For the floraphile/plant enthusiast, an array of perennial and annual flowers, foliage, plants and shrubs abound - lavender, agapanthus, Carolina jasmine, and many more. An artisan deep well is installed dedicated solely for the watering of the outside garden and grass areas surrounding the entire property.
Options, options everywhere. Where the garden sits, is its own lot (lot 3). The lot is currently legally combined with lot 2 on which the home sits. Hence, the 0.38 acre "property" which is all together homesteaded. If desired, the future owner can legally separate the lots again and either build another house, sell the lot, etc. Or the future owner may keep the 2 legally combined lots as they are now and install an in-ground screened pool in lieu of some or all of the garden. Lastly, keep it in its current state and continue to enjoy the awe-inspiring garden. Several options and flexibility for the new owner to consider.
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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 |
|---|---|---|---|
| Jul 31, 2024 | Sold | ||
| Sold | |||
| Jun 25, 2024 | In contract | - | |
| In contract | |||
| Jun 13, 2024 | Listed by KELLER WILLIAMS REALTY ATLANTIC PARTNERS ST. AUGUSTINE | $599,900 | |
| Listed by KELLER WILLIAMS REALTY ATLANTIC PARTNERS ST. AUGUSTINE | |||
| Dec 30, 2009 | Sold | ||
| Sold | |||
| Sep 10, 2009 | Listed by KELLER WILLIAMS REALTY ATLANTIC PARTNERS ST. AUGUSTINE | $314,900 | |
| Listed by KELLER WILLIAMS REALTY ATLANTIC PARTNERS ST. AUGUSTINE | |||
Property Highlights
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About St. Johns
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017