179 OLDE FIELD DRIVE
About This Property
The open-concept main level showcases a living room with gas fireplace flowing into a stunning kitchen with granite countertops, island with bar seating, stainless appliances, and breakfast nook with deck access. The primary suite includes dual walk-in closets and en-suite bath with dual vanities and stall shower, while two additional bedrooms feature walk-in closets and share a full bath.
The finished lower level offers a recreation room with walkout access, additional bedroom, full bath, and partially finished bonus space, plus an unfinished storage room providing excellent space for seasonal items.
Additional features include an attached two-car garage, mudroom with storage, dedicated laundry room, and private vinyl-fenced backyard with deck and retractable awning. Located in the desirable town of Magnolia with convenient access to Dover, residents enjoy the highly-rated Caesar Rodney School District, community playground, and are just 27 miles from Delaware's beautiful beaches. This home offers the perfect blend of modern amenities, functional living space, and small-town charm in a prime central Delaware location.
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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