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295 Salem Road
About This Property
Built in 1988 and thoughtfully updated since, the residence features Five fireplaces anchor the home's principal rooms. The living room, a soaring 39' x 24' space with 12' coffered pine ceilings and a massive floor-to-ceiling stone fireplace, sets a formal yet inviting tone, while the library's built-in cabinetry and Art Deco lighting bring a warmer, more contemporary counterpoint.
The gourmet kitchen is a true tour de force, outfitted with Neff cabinetry, Viking appliances, and its own floor-to-ceiling stone fireplace. A library with French doors opens directly onto a stone terrace, ideal for quiet mornings or evening entertaining. Upstairs, the primary suite is accessed through a generous sitting room/office with its own fireplace and continues into a bedroom with a tray ceiling and another fireplace, as well as a dressing area with a lovely walk-in closet and a spacious primary bath. Three additional bedrooms and a bath complete the sleeping quarters.
Outdoors, the grounds are just as considered as the interiors: an oversized heated gunite pool and spa, surrounded by extensive stone terracing, formal and English gardens, and manicured lawns. The detached three-car garage includes a heated guest, staff, or au pair suite with a full bath, offering flexible space for visitors, live-in help, or a private studio/office.
Notable amenities include marble and granite finishes throughout, gleaming hardwood floors, and 9' and 12' ceilings. Every detail reflects a home that was built without compromise and maintained the same way.
Zoned for the highly regarded Katonah-Lewisboro School District, including Meadow Pond Elementary School, John Jay Middle School, and John Jay High School, this is a rare offering for buyers seeking a full-time residence or a refined weekend retreat within easy reach of Manhattan.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017