20 Lancaster Drive
About This Property
So much of this home has been updated, if you don't get over here quickly, you'll be mad you missed it!
A walkway and oversized portico offer an inviting way to welcome your guests. Inside, gleaming hardwood floors and recessed lighting extend throughout the home, while oversized windows fill the home with natural light. The formal living spaces have been enlarged by a thoughtful design. The current living room will transform into an expansive dining room offering a tranquil view of the backyard and access to the back deck. The formal dining room can re-purpose as a sitting room with additional access to the side deck. Redefine, or keep it as is, the existing space is perfect for entertaining!
The spacious kitchen showcases an ample amount of high-gloss white cabinetry and a defined eat-in-area.
The generously sized primary suite easily accommodates king-sized furniture and features a beautifully remodeled full bath with a double-wide, freestanding shower and a full wall of closets. THREE additional bedrooms share another gorgeous, updated full bath with deep soaking tub.
The lower level offers many options and could easily serve as a private guest suite. A fifth bedroom sits at the foot of the stairs and directly across from a third, beautifully remodeled full bath.
An office or hobby area combines with a spacious family room providing access to a paver patio and the fully fenced in backyard. A large utility/laundry room offers ample storage and / or work space.
And just behind the 5th bedroom, there are two, oversized, attached garages which could add another 469 SF of potential living space.
Suffern offers a highly rated school district, a charming downtown, and easy NYC commuting options via bus or train.
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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.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017