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309 Summit Drive
About This Property
blends comfort, functionality, and exceptional living spaces. A welcoming front
porch sets the tone, inviting you to enjoy the peaceful surroundings. The main
level features an open floor plan with two bedrooms, including a spacious primary
suite and secondary guest bedroom with bath. The heart of the home is an over-the-top
eat-in kitchen which opens seamlessly to the dining room and great room, creating
the perfect setting for entertaining friends. A sunroom offers flexibility as a home
office or reading retreat while enjoying the natural light throughout the day. The
terrace level expands the living space. Here you find a large guest suite with bath.
There is a second great room, ideal for gatherings or game days, a delightful studio
perfect for hobbies, crafts or a private workspace. You will also find an abundance
of storage. The expansive covered terrace porch provides plenty of room for
entertaining, dining or even hosting competitive cornhole tournaments with family
and friends. Car enthusiasts will appreciate the two car garage equipped with an auto
lift, allowing storage for up to three vehicles. The home is located in the fabulous
Audubon Ridge neighborhood of the gated Big Canoe mountain community.
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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