1375 PROVIDENCE BOULEVARD
About This Property
Currently configured as a 2-bedroom, 2-bath home, the property offers additional upside with a semi-converted garage that can easily be completed into a third bedroom or flexible living space with some work (buyer to verify). This creates an excellent opportunity to increase functionality and value.
Set on a generous lot with an expansive backyard, the home features mature fruit trees and abundant space for outdoor living, entertaining, future expansion, or customization. The yard alone offers a rare sense of privacy and possibility.
All of this is located in a fantastic, highly desirable area, making this property an ideal canvas for homeowners, investors, or renovators looking to add value. With great bones, major upgrades already completed, a versatile floor plan, and an exceptional lot, this is a rare chance to create something truly special in a location that delivers.
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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.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017