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243 Schenck Avenue
About This Property
That first-floor layout is a game changer: one-level living, a bedroom, and on the 1st floor is a full bathroom. The remaining bedrooms are upstairs, so everyone gets their own space.
The circa-1910 house has about 1,190 sq ft, 3 bedrooms and 1.5 baths, with open space on all sides and site potential worth exploring. It's sold as-is, a true blank canvas with tons of potential for a buyer ready to put in the work and build value. It's a great opportunity for an end user looking for a home to make their own, and a smart move for an investor looking for upside.
The location is the story. East New York is one of Brooklyn's most active and fastest-growing neighborhoods. New development is going up all around, and renovation projects are underway on block after block. Get in now, before the block catches up to the neighborhood.
***The property is owner-occupied and will be delivered vacant at closing. The seller is ready to move. LET'S GO.
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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