120 Forestwood Drive
About This Property
Throughout the home, you'll find site-finished hardwood floors lending warmth and elegance. The focal point of the great room is a fireplace with a soapstone surround, echoing the home's attention to detail and quality craftsmanship. Enjoy outdoor living with a screened porch and patio adorned with Bluestone, perfect for relaxation or entertaining.
The kitchen and baths feature quartz counters, complementing the modern aesthetic while ensuring durability and easy maintenance. High-end Frigidaire Professional Series appliances grace the kitchen, promising both style and functionality. Extensive trim work and built-in cabinetry add character and practicality to various spaces.
Comfort is ensured year-round with a 3-ton gas HVAC and central air on the first floor, supplemented by a heat pump for the second floor. Other notable features include white oak beams in the great room, a mahogany front door, a tankless water heater, and a sealed crawlspace for added energy efficiency and comfort.
Landscaping abounds, with a sodded lawn and lots of shrubbery creating a lush backdrop for outdoor enjoyment. Conveniently located just minutes from downtown, Duke University, and with easy access to RDU and RTP, this home offers both tranquility and accessibility. Additionally, there is room to add a 16x20 or 20x20 garage as sketched in on Survey. Stakes are marking where the 16x20 Garage could be built. ADU's are permitted also. Builder/Owner would build for you at additional cost.
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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