140 CORNWALL RD
About This Property
The dining room leads to a fenced backyard and a charming paver patio, perfect for warmer evenings. The backyard includes raised beds for gardening, offering the potential for fresh vegetables, fruits, and flowers. Mature landscaping with crepe myrtles, arbor vitae trees, birch trees, holly, and other beautiful plants adds to the overall appeal.
The sellers chose to keep the sunroom open to the kitchen and dining room, creating a space to observe their children playing. However, this space could be enclosed or left as is for a relaxing spot to unwind. A first-floor flex room could serve as a home office or easily convert into a fifth bedroom.
The large mudroom provides ample storage space for shoes and outdoor gear. The oversized garage with a 4-foot extension enhances the second suite upstairs, making it spacious enough for a king bed and a full living room within that private oasis. Upstairs features a loft family room, two additional guest bedrooms, and a hall bathroom. This home also boasts exceedingly low electric bills as the home is equipped with solar you will already own.
Situated in the sought-after Rehoboth Beach Yacht & Country Club community, the home offers proximity to restaurants and the beach while being tucked away in a quiet, residential setting.
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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