31 Lakeview Drive
About This Property
The bonus room could be an office, play area or dining room. Turn right into an upgraded kitchen with stainless appliances, newer cabinetry and a breakfast bar. The large room next to the kitchen could be used as a dining room or a family room. The wood-burning fireplace would be a comforting focal point either way. Your choice! Turn left from the living room and you'll find four nicely sized bedrooms and two full baths. The fourth bedroom could become an office or craft room. The master bath features a walk-in tile shower. Large windows in all bedrooms bring in lots of natural light.
The backyard is well-equipped for family fun and entertaining. Cool off on those hot summer days in the large pool (new vinyl liner in 2014). The little ones will love the wood play set with slide and swings. The fire pit is perfect for relaxing on those cooler spring and fall nights and enjoying your favorite libation. And of course, the lake creates a peaceful and serene environment year-round. This could be your paradise!
The roof was replaced in 2005 with 50-year shingles and the HVAC was replaced in 2009. The lawn pump is newer and powers sprinklers in both front and back yards. The garage door is rated for 140mph winds, which should reduce insurance costs. The 2-car garage has two huge cedar-lined closets for storage. There is a standing freezer and a weight set in the garage that are both negotiable. Buyer to verify measurements and all other details important to them.
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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