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30 Erving Avenue
About This Property
Inside, the home offers hardwood floors throughout, a bright layout, and a distinctive oversized bird-watching window in the kitchen that brings in natural light and a view of the backyard. The kitchen and bathroom are dated, giving buyers the chance to update and personalize the home to their own style while building equity. This is an ideal fit for a first-time homebuyer, down-sizer, or buyer looking for a home with good bones and expansion potential.
Outside, the property continues to stand out with a large rear deck for entertaining, a detached 1.5-car garage with its own separate electrical panel, and a spacious yard with an additional shed that once served as a chicken coop. The garage is a major feature for car enthusiasts, hobbyists, contractors, or anyone looking for a workshop space. The sale also includes an additional attached lot of .26 acres, creating a total of .62 acres of property!
Location is another major advantage. This home sits just 2 miles from Bellport Village, 3 miles from Patchogue Village, 2 miles from the nearest LIRR station, 4 miles from the Fire Island ferries in Patchogue, and only 1.5 miles from Bellport Country Club. Buyers looking for a home near Patchogue Village, Bellport Village, South Shore beaches, ferries, golf, restaurants, and the Long Island Rail Road will immediately recognize the convenience and lifestyle this location offers. With low taxes under $10,000, this home is a compelling option for buyers who want affordability, outdoor space, a garage workspace, and close proximity to some of the best destinations in the area.
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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.
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About East Patchogue
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017