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167 Morris Drive
About This Property
Two main-level bedrooms updated less than a year ago and a full bathroom updated approximately three years ago complete the first floor. Upstairs includes an additional bedroom, full bathroom, and kitchen with adjoining living space. The existing mother-daughter configuration offers possibilities for extended-family living, subject to purchaser application and Town approval; approval is not guaranteed.
The finished basement has a separate exterior exit, and the generous backyard offers room for gardening, outdoor gatherings, and relaxing. A spacious driveway and boiler replaced less than one year ago add to the appeal. With its expanded footprint and versatile layout, this home offers an opportunity to bring your vision to life.
Repairs and updating are needed. Sold as is. Buyers must independently verify all information, including taxes, square footage, room counts, permitted uses, zoning, permits, certificates of occupancy/completion, and open permits or violations
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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%.
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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.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017