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164 RETIREMENT DRIVE
About This Property
This one-of-a-kind 3-bedroom, 3-bath residence in Runk & Pratt showcases a Frank Lloyd Wright-inspired design, highlighted by clean architectural lines, an open-concept layout, and an abundance of natural light. Enjoy peaceful, tree-lined woodland views that create a private, serene setting-while still being just moments from shopping, restaurants, movie Theatre, CVS, the post office, fitness center with indoor pool, and more.
The main level features two spacious bedrooms and two full baths, including a well-appointed primary suite complete with a dedicated office space, walk-in closet, and spa-like bath with whirlpool tub and vessel sinks. A second bedroom offers its own private bath, and main-level laundry adds everyday convenience.
The living space flows seamlessly to a 500 sq ft wrap-around, maintenance-free deck, perfect for relaxing or entertaining while taking in the natural surroundings.
Above the garage, a fully separate 1-bedroom, 1-bath suite provides ideal flexibility for guests, extended family, or a caretaker. The mini-split system in this space was recently replaced ($5,000), adding efficiency and comfort.
This home has been meticulously maintained and presents a rare opportunity within the community.
Residents enjoy a low-maintenance lifestyle with a $250/month fee covering landscaping, road maintenance, and basic cable. The Runk and Pratt main building for meals access, meals-$8 lunches, $7 dinners, and breakfast availability-enhancing both convenience and community living.
A truly unique offering combining design, functionality, and lifestyle at Smith Mountain Lake.
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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