1635 RIVERVIEW DR
About This Property
Sitting on over 28 acres of pristine pasture above the northern bank of the Shenandoah River, this raised rancher-style home offers lengthy river frontage and water access. This private sanctuary provides boundless enjoyment such as kayaking, fishing, hiking, biking, and wildlife; plus, tranquil quiet time on the wrap-around rear deck where the sounds of gentle rapids entrance even the most devout urbanite.
This estate completed a total renovation and addition in 2020. The major addition includes an attached 3-bay 950 sqft garage with workspace and adjoining mudroom. The property is renovated with an eye for entertaining while providing a modern, cohesive, and unifying finish. New, large windows throughout the home including a bay window in the garage and a picture window in the walk-in closet provide a constant dose of the serene outdoors. The natural lighting is enhanced by an array of solar tubes on the main level.
The new kitchen has red oak hardwood flooring, Bosch appliances (including an induction range), cherry shaker cabinetry, exquisite blue Bahia granite counters, marble backsplash, and all new finishes and fixtures. The living room is a sanctuary of its own, with a dramatic stone fireplace and sliding door exit to a massive deck calling endlessly for quiet sunrise mornings. The entry-level owner's suite has a walk-in closet with built-in shelving and a luxury ensuite bathroom. The ensuite bathroom is newly renovated with a twelve-foot gray Silestone dual vanity, a seven-foot tiled walk-in shower with glass doors and two thermostatic Grohe shower heads, and a water closet. The main level also features a 2nd bedroom and full hallway bathroom. The full daylight lower level has tile flooring throughout the recreation area leading to a full wet bar. A level walkout exit to the rear patio completes this perfect entertaining space. Opposite the recreation area are 2 additional bedrooms, a study nook, a full bathroom, and abundant storage space.
Several system upgrades have been recently completed, including an upper-level Lennox natural gas furnace/heat pump with a two-zone system, Mitsubishi air splits installed in the lower level for heating and cooling, an owner-owned buried 1000-gallon propane storage tank, water softener and reverse osmosis water system. The property's exterior has been updated with new Hardie siding, a new brick front entry with cable railings, and redesigned and graveled front and rear driveways. 2 outbuildings accompany the property. A utility shed and large equipment shed, which easily accommodate heavy equipment and recreation gear. This incredible country estate shines from pride of ownership and is only a 90 min drive to DC and Dulles airport.
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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