16142 1st Lane
About This Property
Inside, the home features warm wood flooring, a cozy fireplace, and vaulted ceilings that enhance the sense of space and natural light. The open living areas flow seamlessly to outdoor spaces, including a back deck and two inviting screened porches--perfect for relaxing or entertaining.
With three bedrooms and two full baths, the layout is well-suited for hosting guests or enjoying time with family and friends. The property's proximity to Lake Michigan, with beach access close by at the end of Townline Road, adds to its appeal.
Whether used as a personal getaway or as an rental investment, this home presents an excellent opportunity to enjoy Harbor Country.
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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