25837 Mcpherson LANE
About This Property
Looking for more living space? The shed at the front of the property currently has a bathroom and there was a plan to finish insulating to turn it into a mother-in-law suite. The potential and options are there for you to decide. Have an RV or camper? There are electrical and sewer hookups available next to the shed.
Now that the accommodations are covered, let's talk about the water access... with 50 feet of canal frontage, covered boat dock, and a lift, you can bring your boats and jet skis, to be on the St Johns River, just south of the SR 40 Drawbridge, in no time! You can even be in your new home in time to catch the Christmas Boat Parade floating down the St Johns River at the beginning of the canal. To top things off, there is NO HOA or Lot Rent. That's right... you own the land. The home is also in unincorporated Lake County, so there are no rental restrictions. Live full-time, part-time, or use it as an Airbnb. The choice is yours to make.
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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