28005 PASADENA DR
About This Property
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 3, 2026 | Listed by Realty One Group Evolution | $280,000 | |
| Listed by Realty One Group Evolution | |||
| Sep 10, 2026 | Relisted | $200,000 | |
| Relisted | |||
| Sep 2, 2026 | In contract | - | |
| In contract | |||
| Aug 31, 2026 | Listed by RE/MAX HARBOR REALTY | $200,000 | |
| Listed by RE/MAX HARBOR REALTY | |||
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This fire-damaged property offers a redevelopment opportunity on a desirable double corner lot. The home will require repairs and renovation, and the asking price has been established with the existing improvements, lot value, and condition of the property in mind. Low Ball Offers will be rejected. You must look at the value of what is still there to appreciate the price. The block walls appear to remain intact; however, the roof sheathing, trusses, and other structural components have not been fully inspected and should be independently evaluated by the buyer. The home features large 32" x 32" tile flooring throughout that may be salvageable with proper cleaning and restoration. Impact windows and garage doors will require replacement, along with additional repairs throughout the property. A recent engineering investigation reportedly estimated repairs at approximately $200,000; however, the report is not available for distribution. Estimated after-repair value is $500,000+, offering potential for an experienced investor, contractor, or buyer looking for a substantial renovation project. Property is being sold in its current condition. This is your opportunity!
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| May 4, 2023 | No longer available | - | |
| No longer available | |||
Property Highlights
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About Charlotte
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017