270 Queens Lane
About This Property
Built in 1940, this stately home was designed by the Palm Beach architect Howard Major, a passionate advocate of classical American residential building design. The home offers numerous gracious living spaces, including a formal dining room, living room, library and kitchen/family room. The property was lovingly restored, rebuilt and expanded to the highest standards by local builder Tim Givens. Many modern features were added including an elevator, impact glass, new red oak floors and all new mechanical systems. At the same time a guest cottage, second garage and large swimming pool were constructed. The main house offers five bedrooms with en suite baths; master suite has large marble his and her baths and walk in closets. The second garage has a lift to accommodate up to three cars with an entrance onto Colonial Lane, in addition to the two car garage attached to the main house.
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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 1, 2020 | Sold | ||
| Sold | |||
| Jan 28, 2020 | Listed by The Corcoran Group | $8,590,000 | |
| Listed by The Corcoran Group | |||
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About El Encanto
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017