308 Danimere Ave
About This Property
The expansive, well-proportioned backyard is designed for the Southern California lifestyle-complete with a private patio and built-in BBQ area, perfect for gatherings or quiet relaxation. Brand new irrigation sprinkler system, while newly planted privacy trees along the driveway provide a refined sense of privacy. A detached two-car garage presents a rare opportunity to convert into an ADU (Accessory Dwelling Unit), subject to city approval, offering excellent flexibility for rental income, guest quarters, or extended family living. Recent upgrades include a new Lennox 4-ton HVAC system installed in 2021 and a brand-new garage door opener installed in June 2024, adding both comfort and peace of mind.
With its prime location, strong fundamentals, and untapped potential, this property is a true value-add opportunity in one of the most desirable communities, ideal for homeowners and investors alike. Come visit it today - don't miss this opportunity to call it home!
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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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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017