2999 MAGNOLIA Road
About This Property
The property boasts a generous .66-acre lot offering a private fenced-in backyard sanctuary. Here you will discover an enclosed porch (with swing!) that spans the length of the home, and a separate 16' x 32' cedar shake workshop where the owner fashioned wood furnishings and creations. All of these add to the property's unique charm!
Inside, the 4-bed, 3-bath home holds a warmth and character only a generational home can offer. While it's ready for your modern updates, the strong bones and 2,340 sq ft footprint are the perfect canvas. Offered at a compelling price below appraisal, this isn't just a house- it's a chance to create your own family legacy near the shores of Doctor's Lake! (buyer to verify all measurements)
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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