2585 Forest St
About This Property
The covered outdoor living area, built by Mosaic Outdoor Living (the builders behind DIY Network's Mega Decks), offers spaces for lounging, dining and cooking beneath a vaulted timber ceiling, with sliding glass panels, gas fireplace w/TV, Sonos sound, overhead heaters and Haiku fans for every season. The outdoor kitchen boasts a Fire Magic grill w/searing station, griddle and dual hoods, Kamado Joe smoker and beverage fridge, with the large yard and fire pit just beyond.
Inside, the arched front door, archways, coved ceilings, glass doorknobs, built-ins and original hardwoods showcase timeless character. The open kitchen features KitchenAid black stainless appliances, updated cabinetry w/designer hardware and a sunny breakfast nook, flowing to light-filled living and dining rooms. The primary bedroom offers two closets and automated curtains; a second main-level bedroom overlooks the backyard. The bath showcases custom Zellige tile made to order in Morocco, a hand-carved vanity, extra-deep tub and Kohler Eir intelligent toilet w/bidet.
The finished lower level adds a rec room w/decorative fireplace, two bedrooms w/egress windows, a full bath, storage and an upgraded laundry room w/quartz counters and custom cabinetry.
The detached ADU/office/flex space delivers the ultimate work-from-home setup. The oversized 2-car garage features polyaspartic floors, cedar door, showroom lighting and custom storage, plus a large driveway for your RV or boat.
Upgrades include a Class 4 roof, Marvin black-framed windows, 200 amp panel, new sewer line, refinished floors, fresh paint, tankless water heater, humidifier & many more. Minutes to downtown and blocks from dining, breweries, coffee, farmers market, parks, pools, rec center, bike paths, light rail, City Park, museums and the zoo.
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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