228 Olive Branch Road
About This Property
Inside, the lower level is cleverly designed as a self-contained apartment with a private entry. Complete with a kitchenette, a cozy family/dining area, a full bathroom, and a bedroom, this space has a proven track record as a short-term rental, offering great potential for added income or multi-generational living. Outdoors, you'll find a backyard oasis featuring a sparkling pool, a cabana with a bar area, and a tranquil goldfish pond surrounded by lush, flowering plants. The screen porch doubles as a cozy sunroom in winter, with an adjacent workshop featuring a roll-up garage door, making it easy to work on projects with views of the garden and nearby lot. The home awaits a few updates, but it's full of character and ready for you to enjoy as-is or personalize to make it your own. Embrace the charm, invest in the land, and experience the possibilities this delightful property offers!
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Cap Rate Calculator
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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Feb 3, 2025 | Sold | ||
| Sold | |||
| Dec 6, 2024 | In contract | - | |
| In contract | |||
| Oct 29, 2024 | Listed by Berkshire Hathaway HomeService | $473,000 | |
| Listed by Berkshire Hathaway HomeService | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017