$507,000
●
House -
Off Market
2731 MCELROY DR
CHARLOTTESVILLE, VA 22903
3 Beds
3 Baths
1,370 Ft²
$2,505
Est. Monthly
About This Property
Darling Fry's Spring cottage with large, level back yard! This
sweet cape cod is full of potential. Classic black and white tile
bathrooms, hardwood floors throughout main level, brick exterior.
The living room has a large window overlooking the quiet street and
a wood-burning fireplace (condition unknown). Also on the main
floor are a spacious eat-in kitchen with new gas range & access to
a large back deck (freshly stained), a bedroom, bonus room
currently used as an office but easily converted to another
bedroom, and a full bathroom. Upstairs find two spacious bedrooms
and a full bathroom. In the fully finished basement there's an
additional full bathroom, family room, laundry room, and flexible
space.The fully-fenced backyard with shed overlooks neighboring
yards, creating a park-like setting. Conveniently located close to
Fry's Spring Beach Club, UVA Grounds, and downtown
Charlottesville.,Wood Cabinets
Unit Size
1,370 Ft²
Days on Market
41 days
Land Size
0.27 acres
Price per sqft
$372
Property Type
House
Property Taxes
$366
HOA Dues
-
Year Built
1961
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Cap Rate
100% Occupancy
N/A (extreme outlier) 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.
Last updated: 2 years ago (Bright MLS #656815)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Dec 10, 2024 | Sold | ||
| Sold | |||
| Oct 31, 2024 | In contract | - | |
| In contract | |||
| Oct 22, 2024 | Price Decreased |
$510,000
↓ $15K
(2.9%) | |
| Price Decreased | |||
| Oct 10, 2024 | Relisted | $525,000 | |
| Relisted | |||
| Sep 21, 2024 | In contract | - | |
| In contract | |||
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Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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ft²
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HOA + Taxes
About Fry's Spring
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Listed by: STEPHANIE RORRER
CORE REAL ESTATE PARTNERS LLC
Last Updated: 6 hours ago
Data Source: Bright MLS , MLS# 656815
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CORE REAL ESTATE PARTNERS LLC
Last Updated: 6 hours ago
Data Source: Bright MLS , MLS# 656815
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