2512 Spicebush Lane
About This Property
This property is a unique opportunity, ideal for a full remodel to transform it into your dream home with your own design style. Alternatively, it can be a prime tear-down opportunity to build a custom luxury residence on this expansive lot. The existing open floor plan includes a grand living area with panoramic windows, allowing natural light to flood the interior and showcasing the stunning outdoor scenery.
The master suite offers a private retreat with a spa-like bathroom featuring a soaking tub, his & her bathrooms, walk-in shower, and ample closet space. The backyard provides a peaceful retreat, perfect for relaxing by the water. Imagine enjoying sunsets from your covered lanai or taking a dip in your private pool, all while overlooking the tranquil lake and lush greens of the golf course.
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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