20
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1819 VAN GOGH DRIVE
About This Property
A standout feature is the standing-seam METAL ROOF, replaced in October 2024. The September 2026 four-point inspection rated the roof satisfactory, reported no visible roof leaks, and estimated 40+ years of remaining useful life. The August inspection also reported no issues in the inspected bedrooms, bathrooms, kitchen, and living areas, with the foundation rated "Great-No Repairs." LOW CARRYING COSTS! Annual property taxes of $1,859.2 HOA dues of $775, and a seller-reported Frontline homeowners insurance quote under $700 bring these combined expenses to under $3,259 a year-approximately. (Excludes mortgage payments, utilities, maintenance, and any separate coverage. Property taxes may change after purchase; insurance is subject to buyer eligibility, coverage selections, and underwriting.)
Four-point, wind mitigation, and inspection reports are available for review.(see attached) Reports identify HVAC drainage and shutoff-float repairs, along with vegetation maintenance; buyers should review the reports and verify current condition.
Seller is also a lender and offers to beat a competing written Loan Estimate on comparable financing, subject to borrower qualification and comparable loan terms. No HOA application or approval required. Schedule your showing and explore the value!
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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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About Lake Van
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017