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About This Property
A Mutual Ditch Association has been formed to manage the 1.43 cubic second feet of senior water in the North Fork Ditch to serve North Fork Ranches. The Association Agreement is for review prior to the closing of any lot.
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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 3, 2023 | Sold | ||
| Sold | |||
| Nov 4, 2021 | Listed by Salida Realty | $297,500 | |
| Listed by Salida Realty | |||
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This is a rare opportunity to own a beautiful piece of Colorado with senior water rights. All the lots in North Fork Ranches except Lot 9 have North Fork ditch water piped directly to their lot to be put to use in multiple ways. Green up a large part of your property for horse pasture. Plant an orchard with a big vegetable garden. Do a grand landscape plan or just keep it green and mow it like a park. North Fork Ranches is conveniently located halfway between Historic Downtown Salida and Monarch ski area with paved access to Highway 50.
A Mutual Ditch Association has been formed to manage the 1.43 cubic second feet of senior water in the North Fork Ditch to serve North Fork Ranches. The Association Agreement is for review prior to the closing of any lot.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017