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181 Steam Engine Way
About This Property
Step outside into a fully fenced, custom-designed outdoor retreat. Built for entertaining, the yard features an expansive stone paver patio, a built-in outdoor cooking area, custom pergola seating, and a covered cabana-style lounge space. Whether you're hosting friends, enjoying a fire pit evening, or making the most of a quiet night at home, this is the kind of outdoor living space that would be difficult and expensive to recreate.
Inside, the home lives bright and open, with high ceilings, a functional main-level flow, a spacious kitchen, and a large primary suite with cathedral ceilings, dual vanities, and a walk-in closet. Additional highlights include a 2-car garage and a convenient Garner location minutes from White Oak Crossing shopping and dining, with easy access to I-40, US-70, and Downtown Raleigh.
This isn't just a starter home -- it's a lifestyle upgrade with one of the most compelling backyard setups you'll find under $400k.
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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