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New Hempstead 10977
198 Summit Park Road
$900,000
● House - Off Market

198 Summit Park Road

Ramapo, NY 10977
bedrooms
4 Beds
bathrooms
1 Bath
square feet
1,435 Ft²
$5,587
Est. Monthly
5.00%
Cap Rate

About This Property

Set on 1.63 acres, this 4-bedroom, 1-bath ranch presents a promising opportunity for those with a vision for transformation. In need of tender loving care (TLC), this home offers the allure of privacy, a vast yard, and ample potential to add significant value. With a spacious layout and four sizable bedrooms, there's room for creativity and customization to turn this property into a charming haven. Whether you're envisioning modern upgrades, landscaping enhancements, or expanding living spaces, this ranch provides the canvas for realizing your dream home in a tranquil Spring Valley setting. seize the opportunity to transform this property into a personalized sanctuary and enhance its value in a serene and expansive landscape. Additional Information: HeatingFuel:Oil Above Ground,ParkingFeatures:1 Car Attached,
Unit Size
1,435 Ft²
Days on Market
349 days
Land Size
1.63 acres
Price per sqft
$645
Property Type
House
Property Taxes
$1,045
HOA Dues
-
Year Built
1963

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

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.

Last updated: 6 months ago (OneKey MLS #KEYH6281204)

Price History

Date / Event Date Event Price
Nov 26, 2024 Sold
Premium
Sold
Apr 18, 2024 In contract -
In contract
Dec 13, 2023 Listed by K. Fortuna Realty, Inc. $924,999
Listed by K. Fortuna Realty, Inc.

Property Highlights

Garage

Building Info

Overview

    General

  • Year Built: 1963
  • Effective Year Built: 1963
  • Bedroom Count: 4
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 11
  • Exterior Walls Type: 17
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 2
  • Basement Area: 0
  • Garage Type: 1
  • Garage Square Area: 550
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 71,003
  • Lot Size Depth Feet: 2,100
  • Lot Size Frontage Feet: 500
  • Total Building Area: 1,435
  • Building Area: 1,435
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,435
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 1
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000001630
  • Standard Land Use Code: 1001
  • County Land Use Code: 210

Neighborhood

  • School District Name: East Ramapo Central School District (Spring Valley)
  • School Tax School District: SPRING VALLEY
  • Census Tract: 011509

Zoning

  • Zoning: 2

Geography

  • Account Number: 00379270000
  • District: 392613
  • Section: 42.06
  • Parcel: 392613 42.06-1-2
  • Block: 1
  • Lot: 2.000
  • Municipality: NEW HEMPSTEAD
  • Latitude: 41.1619
  • Longitude: -74.0448

    Address

  • Full Address: 198 Summit Park Rd
  • Address - House Number: 198
  • Address - Street Name: Summit Park
  • Address - Suffix Type: Rd
  • State: NY
  • City Name: Spring Valley
  • Carrier Code: C013
  • 4-Digit Zip Code: 1217
  • Zip Code: 10977

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $1,122,640
  • Tax Rate Code Area: 392602

    Appraisal Valuation

  • Standard Deviation: 0.2199
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 93
  • Final Value: 945,389
  • High Value: 1,026,132
  • Low Value: 864,646

    Market Valuation

  • Market Total Value: $54,000
  • Market Land Value: $22,229
  • Market Improvement Value: $31,771

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $51,500
  • Assessed Land Value: $21,200
  • Assessed Improvements Value: $30,300

    Exemptions

  • Senior Citizen Exemption : Yes
  • Homeowner Exemption: Yes
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About New Hempstead

Stats & Trends

Median Asking:

$970,000

Sale Price/ft²

$401

Below Asking

0.01%

Average Days on Market

111

Average Home Size

2375 ft²

Average Home Age

28.5 years

Currently For Sale

8 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 109 Pomona Road, Pomona, NY, 10970

$4,950 /mo

  • 5 Beds
  • 3 Baths
  • 1,944 ft²
109 Pomona Road, Pomona, NY, 10970 Listing by William Philip

Rentals Near You

Click here to view more rentals in the neighborhood.
OneKey

Last Updated: 6 months ago
Data Source: OneKey MLS

Frequently Asked Questions

When was property at 198 Summit Park Road built and last sold?
The property at 198 Summit Park Road was built in 1963 and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 198 Summit Park Road is $0.
What are some comparable homes to 198 Summit Park Road?
There are currently no comparable homes to 198 Summit Park Road.
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