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2285 LAKE DRIVE
About This Property
The home features an architectural shingle roof, low-maintenance vinyl siding, newer HVAC system, stainless steel appliances, and replacement windows throughout most of the house. A long driveway provides plenty of parking for multiple vehicles and offers ample room for RV or boat storage. The home is situated on the cleared portion of the property, with beautiful wooded acreage on the right side that adds privacy and natural surroundings. The wooded area may provide potential for clearing, subdividing, or building additional homes, though buyers should conduct their own due diligence regarding development possibilities.
This property combines convenience, space, and potential-an uncommon find in such a central location.
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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