137 WILLIS Avenue
About This Property
Serious Price Reduction! Call now! Back on the market due to financing failure. This very large and unique home is sitting in a country setting and on a little under a half-acre. This home has so much potential. Just under 3000 sq ft. of living space with only about 2081sf in the main house. The bottom right part of the home (844sf) was the original house, which had been used as storage space and workshop but could be transformed into a mother-in-law suite. There are still rooms and a full bathroom in that part of the home. The 2-story part was built as an addition. Reportedly, but unverified,needs new well. Needs complete cosmetic remodel. Property has great bones but needs a complete cosmetic remodel on the inside.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 31, 2024 | Sold | ||
| Sold | |||
| Nov 15, 2023 | Listed by COLDWELL BANKER VANGUARD REALTY | $150,000 | |
| Listed by COLDWELL BANKER VANGUARD REALTY | |||
| Sep 25, 2023 | Sold | ||
| Sold | |||
| Feb 25, 2023 | No longer available | - | |
| No longer available | |||
| Feb 1, 2023 | Relisted | $270,000 | |
| Relisted | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017