16 SUMMIT AVENUE
About This Property
Peace of mind comes with knowing the major renovations have already been completed. The open-concept living areas feature attractive Pergo flooring throughout, while the beautifully updated kitchen offers stainless-steel appliances, quartz countertops, a large center island, plus a convenient coffee bar and pantry installed in March 2025. Both bathrooms have been tastefully remodeled, and the home also features new doors, light fixtures, outlets, switches, plumbing, water heater, washer, and dryer. The electrical service was updated with a new main panel and garage sub-panel in May 2025, with garage outlets updated in October 2024.
Step outside to enjoy a large, flat, fully fenced rear yard with a shed for additional storage. The freshly painted two-car garage provides plenty of parking and storage, including a pull-down staircase to an improved attic. The garage attic was enhanced with structural supports and the entire length of the garage decked for additional usable storage, completed in October 2024.
Additional improvements include newer windows and roof, a freshly painted interior and exterior in neutral tones, and a new rear entry door and windows installed in June 2026. With a large driveway, extensive updates, great outdoor space, and a convenient location, this home is truly move-in ready!
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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 |
|---|---|---|---|
| Sep 26, 2026 | Relisted | $405,000 | |
| Relisted | |||
| Sep 3, 2026 | In contract | - | |
| In contract | |||
| Aug 27, 2026 | Listed by Keller Williams Realty Centre | $405,000 | |
| Listed by Keller Williams Realty Centre | |||
| Mar 15, 2024 | Sold | ||
| Sold | |||
| Feb 27, 2024 | In contract | - | |
| In contract | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017