1164 CORTEZ Road
About This Property
As you arrive, you'll be struck by the charm of this all-Norwegian brick home. The property features not just one, but two separate homesteads, each complete with its own well, septic system, and power pole. (cont.) The second homestead's power pole is thoughtfully equipped with a 50-amp RV plug-in and a 100-amp setup, perfect for a shed, garage, or barn, catering to your every need.
No impact fee required for second homestead which is over $14k in savings alone. Inside the main home a generous kitchen with an inviting island awaits, offering a hub for culinary creativity. The separate dining room provides a delightful space for family gatherings or intimate dinners. The spacious living room, graced by a brick fireplace, is an ideal spot to unwind and warm your evenings with its cozy ambiance. Peace of mind in knowing that the roof was replaced in 2023, the HVAC was replaced in 2020, and well pump replaced 2019. The home is equipped with a 500 ft artesian well, wired for a whole home generator, and includes a water softener.
The three roomy bedrooms offer comfort and privacy, making this home an ideal setting for both rest and relaxation. The large front and back porches beckon you to step outside and savor the breathtaking views that surround the property. Plenty of room for your horses, cows, and chickens. As you breathe in the crisp, clean air, you'll appreciate the serene backdrop of Magnolia trees, blueberry bushes, and vibrant wild azaleas thoughtfully planted around the estate. Even better the back of the property is walkable to the St.Marys River for fishing enthusiasts!
If you have a green thumb, you'll revel in the opportunity to cultivate your own garden or explore the flourishing planted pines, which are poised to be ready for harvesting in 5-7 years, offering both beauty and a future return on investment.
As if that weren't enough, the property is a haven for wildlife enthusiasts. Frequent sightings of deer and other wildlife amidst the grounds remind you that this home truly exists in harmony with nature.
With 9 acres of pure brick luxury, this property is a sanctuary for those who yearn for the tranquility of the countryside. Embrace the peace and beauty of this unique home, where every day is a celebration of nature and comfort for the whole family.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017