18 COVENGER DR
About This Property
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 24, 2023 | Sold | ||
| Sold | |||
| Jun 29, 2023 | In contract | - | |
| In contract | |||
| Jun 17, 2023 | Listed by Keller Williams Realty - Moorestown | $645,000 | |
| Listed by Keller Williams Realty - Moorestown | |||
| Jun 30, 2022 | Sold | ||
| Sold | |||
| Apr 15, 2022 | Listed by Keller Williams Realty - Moorestown | $499,900 | |
| Listed by Keller Williams Realty - Moorestown | |||
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Welcome to the home and neighborhood of your dreams, 18 Covenger Drive, a true paradise and entertainer’s dream! This stunning and completely updated home, located in the very desirable Tamarac Lakes community, is situated on ¾ of an acre. In the last seven years, the homeowners have lovingly renovated and updated this 3 bedroom, 2.5 bath Colonial home which also includes a rare, fully finished basement and 2 car garage. Nearly everything has been updated from top to bottom, inside and out! Improvements include a New Heated Inground Pool with concrete surround, New HVAC (2017) and Hot Water Heater, freshly painted interior, new hardwood flooring throughout, a renovated and expanded kitchen, remodeled bathrooms, all new laundry room/mud room, new windows and sliding doors, designer light fixtures, tons of recessed lighting and so much more! Let’s start with the most rare to find and jaw-dropping element of this property… The Backyard! Just in time for warmer weather, your backyard oasis awaits as it includes a Brand New Heated Inground Pool (Liner), Custom Stone BBQ area featuring a built in Pizza Oven, Fireplace, KitchenAid Grill, Wet Bar and Beverage Fridge with a gorgeous shaded pergola with electric and flat screen TV, outdoor shower and Tesla Solar Panels saving the owners hundreds of dollars every month! You will absolutely be the envy of your friends as this incredible backyard also includes .76 acres of lush green grass, a fenced in raised garden bed area that scales the full length of the property as well as a custom, oversized and pristinely built Tree House ready for all of the summer-time fun! As if this wasn’t enough to enjoy all summer long, this home is situated in the private Lake Community of Tamarac Lakes, which offers you year-round activities including swimming, boating, fishing, ice skating, volleyball, tennis and basketball. The Association also has committees with activities including Easter Egg Hunt, Beach Parties and so much more! Now, for the interior, upon entering from the welcoming and charming renovated front porch, all of the charm and tasteful updates become apparent as you immediately notice the hardwood flooring, shiplap, crown molding, wainscoting, sliding barn doors and room upon room of on-trend and beautiful updates. To such delight, the newly expanded and renovated Chef’s kitchen includes Custom Cream Cabinetry, Granite Countertops, New Whirlpool Suite Stainless Steel Appliances which includes a double wall oven, beautiful farmhouse sink looking out of the large picture window overlooking the backyard and tons of cabinets and storage finishing off with a Granite Top 9 ft kitchen island and custom built in bench seating and kitchen table all opened up and looking into the cozy family room. Family room includes a beautiful focal point of a white remote control gas insert fireplace with custom built-in shelving and cabinetry as well as includes access into the Laundry Room and Garage as well as provides access out back through brand new sliding doors. A door off the kitchen and family room leads to the fully finished basement with new carpeting and more than enough space for a gym/office/TV area! Also in the basement you’ll find a new HVAC and Hot Water Heater along with a bonus crawl space for additional storage! Upstairs, the 2nd floor includes a nice sized primary bedroom suite boasting neutral walls, hardwood flooring, built in closets & a lighted ceiling fan. The master bath was newly renovated and features tile flooring and standing shower & brand new vanity! The 2 additional bedrooms are both ample sizes & there is a full bath in the hallway also fully renovated with brand new vanity, lighting and commode & features a tub with tile surround. All while located in such an incredible community, within walking distance to the highly rated Cranberry Pines Elementary School, nestled around the most beautiful lakes in Medford! Come live the good life in Tamarac!
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017