245 Summer Ave
About This Property
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 14, 2024 | Sold | ||
| Sold | |||
| Mar 27, 2024 | In contract | - | |
| In contract | |||
| Mar 20, 2024 | Listed by Compass | $1,899,000 | |
| Listed by Compass | |||
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Welcome to 245 Summer Avenue, a truly exceptional property in Reading that redefines luxury living. The entire house underwent a comprehensive gut renovation in 2018 and has had multiple updates since, ensuring top-notch quality and smart amenities throughout. Step inside to discover designer tile, fixtures, and finishes that exude modern elegance and warmth. With multiple fireplaces, custom woodwork and built-ins, a primary suite that is truly its own oasis, and multiple flex spaces, there is little left to be desired. Situated on a sprawling lot, this property offers a fenced-in yard, an oversized patio, and abundant green space, creating an inviting outdoor retreat. The detached 3-car garage and a spacious driveway provide parking for the whole family and then some! Situated within walking distance to restaurants, shops, and the commuter rail, this home boasts an unbeatable location. Don't miss the opportunity to make this exceptional one-of-a-kind property your own!
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| Mar 18, 2019 | Sold | ||
| Sold | |||
| Sep 12, 2018 | Listed by Leading Edge Real Estate | $1,599,000 | |
| Listed by Leading Edge Real Estate | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017