118 Front Street
About This Property
Everything has been upgraded walls, insulation, electrical, plumbing, Dunkirk combi unit heat & tankless water heater, and new baseboard registers. All new matching kitchen appliances are staying. Open concept kitchen and dining room. 1st and 2nd floors have vinyl plank flooring. (Original hardwood floors still remain) 2nd floor laundry with new washer and dryer staying with the home. Additional room on the second level could be an office or additional closet space. Attic is fully finished and is being used as the third bedroom, adding an additional 408 sq ft to the living space. All three floors are independently zoned for heat. Metal roof also brand new in 2020. Seller is willing to give credit for new garage door, storm doors, and minor painting if buyer requests.
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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