298 McVea Drive
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 21, 2022 | Sold | ||
| Sold | |||
| Aug 31, 2022 | Listed by Engel & Volkers Shoreline | $679,000 | |
| Listed by Engel & Volkers Shoreline | |||
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Unique motif and function with eco-friendly features-this is truly a house for the 21st Century, designed specially for this site. The home was designed by Maine based award winning sustainable architecture firm GO Logic. The owners of this home did not skip a beat with sustainability while maintaining an industrial beach vibe to reflect both the natural features and the furniture making and manufacturing traditions of the region (metal cladding and roof, shelving and other casework). With the idea of bringing nature in, they kept the natural habitat outside deeming the garden area certified wildlife habitat. They put a lot of focus on featuring mostly native grasses and trees for low maintenance to replicate the natural character of the area. The beautiful Cor-Ten steel cladding on the exterior of the home has weathered, so it blends in nicely to the overall landscape of the home.
Inside the home you will find an ERV air circulation system, which promotes excellent indoor air quality, along with high-quality windows from Kneer Sud in Germany to keep drafts out in winter months, and are placed to promote fresh air circulation when it's warmer. They chose to not put in an Air Conditioning unit for this reason, but one could be installed.
They have coined the see through window in the family room as the "Chad" window, it is named after their brother-in-law who came up with the concept. He thought they needed it to be a see through window with views of the outdoors and peek a boo views of the water in the winter months.
The kitchen has all Bosch appliances, an induction cook top and cabinets are made of Ash. All drawers are soft close as well.
The floors are made of concrete throughout the home and in the winter, the concrete absorbs the warmth of the sun on clear days to reduce the heating demand.
The house was designed to take advantage of passive solar. The living area is full of light all day, while the bedrooms are a bit more secluded. The primary bedroom has a lovely en suite full bath with beautiful tile work. The bedroom also features access to the 3 season room, allowing you to step outside with your cup of coffee in the morning while admiring slight peek-a-boo views of Lake Michigan (better views in the winter when the leaves are down).
Overall, this home is a dream to someone wanting to live sustainable all while being just minutes from the shores of Lake Michigan and a short drive to downtown Saugatuck/Douglas.
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| Oct 7, 2016 | Sold | ||
| Sold | |||
| Jul 17, 2016 | Listed by Coldwell Banker Woodland Schmidt Saugatuck | $139,000 | |
| Listed by Coldwell Banker Woodland Schmidt Saugatuck | |||
| Apr 23, 2008 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017