1645 TERRACE DR
About This Property
Same owner for 40 years. Although the home needs updating throughout the priced reflects the condition. Sold "As-is, where is, and with all faults". Some personal property may remain and it may be the buyer's responsibility to dispose. (we can arrange a service at a separate charge available if you wish it broom cleaned). Siding has been upgraded with a premium vinyl cedar look. The location is superb. You will certainly be impressed with the generous rear yard. Recent sales in the area range in the $600's to the mid $700's. With so little inventory to consider, maybe it is time to think of buying a fixer-upper and improving it to what you want?? With this home, and some renovation, you can have exactly what you are looking for, and you might still be under your budget!!! Owner reserves the right to accept bids at any time and not necessarily ask for highest and best offers.
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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