306 WILLA ROAD
About This Property
As you enter the home, you are greeted by a spacious family room and beautiful hardwood floors that continue through the dining area, staircase, and all bedrooms on the second floor. From the family room, make your way into the updated kitchen, where you will find ample cabinet and counter space, butcher block countertops, and updated appliances. Just beyond the kitchen is the dining room, featuring sliding glass doors that lead to the rear deck and overlook a spacious flat backyard, creating an ideal setting for outdoor entertaining. An additional side entry door off the kitchen offers convenient access to the side yard, and a powder room completes the main level.
Upstairs, be sure to check out the nicely sized owner's bedroom with double closets. The full bath connects directly to the owner's bedroom while also offering hallway access for the two additional bedrooms. The unfinished basement includes the laundry area and provides plenty of room for storage. Outside, the rear yard also includes a shed for even more storage space.
Recent improvements add to the appeal, including updates to the kitchen and full bath, fresh paint throughout, and a new energy efficient HVAC system installed in 2024.
Set in a neighborhood setting across from West Park Place Elementary School, this home is within walking distance to the Newark transportation hub, nearby walking and biking trails, and the University of Delaware campus. I-95 is just a short drive away for added commuting convenience. Chesapeake City is under 30 minutes away, and Philadelphia International Airport is approximately 40 minutes away, making travel and weekend getaways easily accessible. For those thinking long term, the location also offers strong appeal from an investment perspective, whether as a smart addition to a portfolio, a potential future student housing strategy, or simply a well located property in the heart of Newark.
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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.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017