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2940 Grove St
About This Property
You enter the home and are greeted with a warm and inviting living room complete with a fireplace. The living room opens into a bright, open kitchen and dining area, with quartz countertops and newer appliances, anchored by solid hardwood floors. A private main-floor primary suite with a dual-sink bathroom offers a rare accommodation for a home of this vintage. An additional bedroom and a full bath round out the main floor. The finished basement adds three bedrooms (one non-conforming), a family room, another full bath and dedicated laundry room.
At the rear of the property: an oversized stamped concrete patio, fenced yard, and a 890-square-foot detached garage - an exceptionally rare find in the Highlands. This blank canvas is capable of housing six vehicles, a workshop, a studio, collection or any combination the next owner imagines. Renderings with potential uses can be found in the photo section.
A short walk reaches Highland Square on 32nd Avenue: St. Kilian's Cheese Shop, Cerebral Brewing, Mondo Vino, El Camino Community Tavern, Paperboy, Hearth, Fire on the Mountain, Beyond the Blackboard, West Side Books, Ruby Jane and Wax Trax Records. Highland Square hosts a bustling weekly Farmers Market and the beloved Highlands Street Fair, Oktoberfest, Harvest Festival and Holiday in the Highlands. Sloan's Lake, LoHi, Ball Arena, and downtown Denver are within minutes. Living here provides you with a welcoming community reminiscent of small town living with the bonus of quick access to I-25.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017