140 Chestnut Way
About This Property
3 adjacent lots, with 2 lots at 140&142 Chestnut Wy & 1 at 215 Lakeledge Wy. On most Beech Mountain maps, these lots show as 5 lots (CR145 & CR144 on Chestnut Wy & CR177, CR178, & CR179 on Lakeledge Wy). Prior to the last sale of these properties, 2 10'x10' parcels were carved out to the corners of CR178 & CR179, & continue to be called by those names. Nearly all of CR179 was replatted to merge w/ CR144, forming 1 large 0.75acre lot which is on both Chestnut Wy & Lakeledge Wy. Nearly all of CR178 was repatted to merge w/ CR145, forming 1 large 0.67acre lot which is on both Chestnut Wy & Lakeledge Wy. CR177 was unchanged, & is 0.30acre. (The replatting was done to preserve the club rights to the two lots, which did not convey with the sale, and to create the opportunity to build three homes with downhill access form Chestnut Way). From Chestnut Way the lots have an unblocked, extremely long distance NE view.
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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 |
|---|---|---|---|
| Nov 26, 2024 | Temporarily off market | - | |
| Temporarily off market | |||
| Dec 16, 2023 | Listed by Homecoin.com | $250,000 | |
| Listed by Homecoin.com | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017