196 Norwich Drive
About This Property
Major system updates include a new roof (2021), zoned HVAC system (2023), new water heater (2024), new garage motor (2024), and a new double oven (2025)-giving you peace of mind from day one. Inside, enjoy fresh carpet downstairs, new flooring in the powder room, and professional interior cleaning, including carpet refresh upstairs and on stairs (May 2025). The exterior has also been freshly power-washed, enhancing curb appeal and move-in readiness.
The open-concept main level features granite countertops, ample cabinet space, and a seamless flow into the living and dining areas. The upstairs loft offers flexible space for a home office, gym, playroom, or second living area. The large primary suite includes extra large walk-in closets and a private bath with soaking tub, separate shower, and double vanities.
Located just 30 minutes from Raleigh, this home is convenient to major highways, shopping, dining, and local amenities. Enjoy neighborhood perks including a community pool, tennis courts, and a playground-all while benefiting from the value and comfort of an updated, well-maintained home.
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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