29 Orowoc Drive
About This Property
Step into a fairytale with this perfect, timeless 1923 English Tudor, a stunning example of classic architecture complete with a beautiful cedar roof and original detailing. Located in a sought-after South of Montauk neighborhood, this home offers endless possibilities for both living and expansion.
The property features an inviting interior with updates that include a recently remodeled kitchen, modernized heating system, french drainage system in the basement, and an Anderson sliding glass door that leads to the serene outdoors. The large lot offers two spacious patios for outdoor living and a detached garage for convenience.
Whether you choose to embrace the historic charm as it is or envision expanding and modernizing, this home is a rare find with potential for customization to suit your lifestyle. The prime location ensures you're just moments away from all the best amenities and scenic beauty the area has to offer.
Don't miss out on this opportunity to own a piece of history with the perfect blend of vintage charm and modern comfort.
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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.
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About Islip
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$3,025 /mo
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- 1 Bath
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- 1 Bath
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017