1242 PROVIDENCE TER
About This Property
Custom built to accommodate multi-uses for professionals working from home and generous areas for each occupant's personal spaces. Intentional flexibility was incorporated in the original design for future lifestyle changes and creative space-making. Spaces adapt easily for full-time work and home-study lifestyles. In addition to family gatherings, its transitional floor plan has hosted embassy functions and provided diplomatic reception and home offices. 6300 square feet of living space includes 4400 square feet on the main and upper levels, 1900 square feet on the lower level. Large 2-car garage has high ceilings to accommodate boat and sail storage.
House features hardwood floors on the main and upper levels, ceramic tile on the entire lower level, walk-in bay windows, 9+' ceilings. Two primary bedrooms upstairs, a main level study that can serve as a bedroom with its own library/office, lower level bedrooms (including one en suite) ensures privacy for all.
The existing floor plan is comfortable, and can easily be modified to meet the next owner's living preferences. Original owners designed spaces for easily modification, e.g., a powder room can be added on the main level and the walk-in pantry/storage room/office space can be added to the Dining Room.
Updates in the last 5 years include new roof; Lennox heat pump, AC and gas furnace; gas clothes dryer, clothes washer; water heater.
Short cul-de-sac location enjoys limited vehicular traffic, and the extremely convenient location is a 5-minute drive to Tysons Corner business district and the Silver Line Metro. Within 1 mile, downtown McLean amenities include grocers, pharmacy, dining, post office, public library and so much more!
Come home to a lifestyle inspired by you!
Property is sold as part of a 1031 exchange.
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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.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
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About McLean
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017