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2623 ARMADA STREET
About This Property
The main level features hardwood floors throughout, with the exception of the kitchen, which is finished with ceramic tile flooring. The spacious living room flows into a separate dining room, while the renovated kitchen offers upgraded cabinetry, countertops, backsplash, ceramic tile flooring, and a full appliance package. Just off the kitchen, the screened porch overlooks the backyard and provides the perfect space for outdoor dining, morning coffee, or relaxing at the end of the day. The main-level bath has also been updated with tile, vanity, lighting, mirror, and tub/shower.
The lower level offers a large family|recreation room with a beautifully updated stone fireplace, a third bedroom, a second full bath, a laundry room, and access to the attached 2-car garage.
The sellers have completed many important updates, including roof (2023) with 50-yr warranty, chimney repointing (2023), whole-house water filtration system (2022), garage door opener (2021), 50-gallon water heater (2018), Hardie-Plank siding (2013), windows (2010). Full list of Updates uploaded to the document portal.
Conveniently located just minutes from Fox Mill Shopping Center, Frying Pan Farm Park, the Silver Line Metro, Reston Town Center, Dulles International Airport, and major commuter routes. If you're looking for a home that has been well cared for in an established neighborhood, this is one you won't want to miss.
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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%.
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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