157 Peterson Drive
About This Property
This charming cottage offers lake views right from the front room and association access just down the street, making it easy to enjoy summer days on the water.
The kitchen has been nicely updated with hickory cabinets, new countertops, and flooring. It also includes an eating area, mudroom access, and all appliances, so you are ready to move in and start enjoying the space right away.
The living room is filled with natural light thanks to sliding doors that open up the possibility of adding a deck with a nice view of the lake.
With two bedrooms and one full bath, this home is comfortable, low maintenance, and ready for immediate use. Whether you are looking for a weekend escape, rental opportunity, or year round living, this property checks the boxes.
Outside, you will find a garage for all your storage needs, a spacious yard to enjoy outdoor activities. It is a short drive to the public access to launch your boat for a relaxing day of fishing or enjoying water activities. Lake Michigan and several resort towns are in close proximity making weekend excursions an added addition to your summer fun.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017