31 Drake Lane
About This Property
Inside, you'll find a generous layout with ample natural light, a cozy living area, and a recently renovated kitchen ready for your personal touch. The second floor features the primary bedroom with an en-suite full bathroom and a walk-in closet. Both bathrooms have also been recently renovated. The fully fenced backyard provides a great space for entertaining or relaxing, with room for gardening, playing, or summer BBQs.
There is electric baseboard heating throughout the home for efficiency and cost savings. The electrical panel has been upgraded to 200 amps, and the washer/dryer are both conveniently located on the first floor. The kitchen features all stainless-steel appliances.
With proximity to parks, shopping, dining, public transportation and major roadways, this home combines convenience with a quiet suburban feel.
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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