2951 Adrian Ave
About This Property
All roofs on the structures are less than five years old, with the main house roof replaced in 2020. The AC was replaced in 2018, and a tankless gas water heater serves the main house, with connections available for a gas dryer and stove if needed. This unique property is only five minutes away from the fabulous IR Beach. Bring your boat(s), RV, jet skis, or even 4-wheelers-there's plenty of room for all of it! No HOA fees, CDD, or flood insurance required (evacuation zone A).
This property presents an excellent opportunity for short-term rental, long-term rental, or even an AirBnB. The oversized lot is completely fenced in and adorned with beautiful, mature landscaping, including a fire pit. A hen house is located on the east side of the house, providing fresh morning eggs daily. Situated in a quiet neighborhood with recent renovations and upgrades to the community, this property offers significant potential for creating a family compound.
We welcome all offers and ideas to transform this property into your personal retreat. Truly a country feel within city limits.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 1, 2024 | Sold | ||
| Sold | |||
| Aug 12, 2024 | In contract | - | |
| In contract | |||
| Jul 24, 2024 | Price Decreased |
$405,000
↓ $5K
(1.2%) | |
| Price Decreased | |||
| Jul 6, 2024 | Relisted | $410,000 | |
| Relisted | |||
| Jun 30, 2024 | In contract | - | |
| In contract | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017