1161 SUMMIT DR
About This Property
ATTENTION VA BUYERS - this home has a VA ASSUMABLE loan with a 2.75% interest rate! Monthly payment is $2361!!! Enjoy everything the Chesapeake Bay lifestyle has to offer year-round in this fantastic home! Spacious and open with great natural lighting! Abundant updates include a new roof, windows, flooring, and appliances! The main level has gorgeous hardwood flooring, a welcoming living room, dining room, 3 large bedrooms, and an updated bath. Fully finished lower level has new luxury plank flooring, a spacious bedroom and updated full bath. Lots of special touches including freshly painted walls! Parties and movie nights are so much fun in the large family room! Expansive rear deck is a perfect place for grilling out and eating crabs. The fully fenced rear yard is a perfect play space for Fido and the kiddos. If you love the outdoors, there is plenty of room for a garden and horseshoes! Grab a firepit and roast some s'mores. Community playground, beach, boat ramp! Pool memberships and boat slips have minimal fees! The community shopping center has a fabulous grocery store, delicious dining, fun pubs, boutique shops, even a local gas station! So convenient! Bring your jet skis, kayaks, and paddle boards! Access to Routes 50, 97, and 2 are minutes away!
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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