1836 Iris Lane
About This Property
Perfectly positioned on the west end of Navarre, you'll love the tranquil entrance to Sunrise, complete with ponds and ducks greeting you on the way home. Tucked away on a quiet street, this property sits on a half-acre, fully fenced lot, offering privacy and space to spread out. Step inside and you'll immediately notice how tall ceilings, abundant natural light, and an open layout make the home feel far more spacious than its square footage suggests. A complete remodel has brought new life herefeaturing brand-new kitchen cabinets, sleek countertops, and beautiful tile flooring laid at a 45° angle. Newer windows invite sunlight into every corner.
The primary bedroom is generously sized with a double closet and a statement double barn door leading to the en-suite bathroom. Here, you'll find a tall, deep walk-in shower (no tub), a linen closet, and a double vanity for added convenience.
The two additional bedrooms boast new carpet and padding, fresh paint, and great natural lighting. The massive kitchen island and upgraded cabinetry provide plenty of prep and storage spaceideal for cooking or entertaining. A cathedral ceiling in the living room enhances the open feel.
All appliances convey, including the washer and dryer (as-is). The deep laundry room connects directly to the primary bedroom for easy laundry days and features extra shelving for storage. There's also a deep one-car garage with additional washer/dryer hookups (as-is).
For peace of mind, the home comes with plywood storm coverings for all windows and will receive a brand-new architectural roof prior to closing. The HVAC has been recently serviced, the water heater appears newer (exact age unknown), and the irrigation pump is brand new (not currently connected to the Rain Bird system).
Outside, the home's brick and hardy board siding (no vinyl) adds durability and curb appeal. A recent landscape refresh completes the package. Inside and out, there's a subtle mini-craftsman charm that the next homeowner will appreciatealong with the location, quality, and value.
Priced competitively for a quicker closingdon't miss this opportunity!
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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