3079 Royale Elk Way
About This Property
Located on Royale Elk Way, this custom home showcases craftsmanship and architectural details, including textured walls, exposed wood beams, wrought-iron fixtures, slab granite, a rustic cherry staircase, and engineered hickory flooring. Four fireplaces, including a wood-burning fireplace, add warmth and character, while an elevator and heated three-car garage with workshop space and floor drains add convenience.
The third-story tower room offers sweeping 360-degree mountain and meadow views with a power shade.
Outside, a hillside waterfall and rock garden complement the surroundings. A private gate opens directly to Elk Meadow Open Space, making this one of only nine homes in Evergreen with direct access to this trail system. Enjoy expansive meadows, mountain scenery, wildlife, and outdoor recreation just steps from home.
The finished walkout lower level features a separate entrance, a great room with gas fireplace, and a wet bar complete with refrigerator, dishwasher, and sink. A wine room and mudroom add functionality, while the flexible layout offers possibilities for guests, extended family, or entertaining.
Additional features include radiant heat, a humidification system, fully paid-off solar panels installed in 2021, an underground sprinkler system, energy-efficient features, and fire-mitigation improvements.
With its Tuscan architecture, panoramic views, elevator, and peaceful mountain setting, this home offers an exceptional combination of craftsmanship, comfort, and Colorado mountain living.
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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