3104 Dolphin DR
About This Property
The main house has two bedrooms and two bathrooms, while the adaptable second-story studio apartment serves as a third bedroom and bath. This versatile space has been used as a permitted short-term rental, a guest retreat, and a home office, offering various possibilities!
The interior features fresh paint throughout, gorgeous natural light, archways, and updated fixtures. This formerly 3/1 ranch has been opened up to provide more space for the living, dining, and kitchen areas, along with a laundry and storage room for added convenience.
At the front of the home is a guest bedroom and full bathroom. The large primary suite is nestled at the rear of the home and has ample natural light from multiple windows overlooking the garden, as well as private access to the backyard. The ensuite bathroom features a newly-updated walk-in shower.
The second-floor, cedar-lined studio apartment has a private entrance that is accessed from the backyard, eliminating the need to pass through the main house. Complete with a full bathroom, it offers a tranquil retreat overlooking the trees and backyard. This flexible space offers many possibilities, including the potential to earn short-term rental income.
The exterior features plenty of space for entertaining, including a fire pit area, dining patio, and newly-rebuilt stairs and deck for the second-story unit. A privacy fence and lush landscaping complete with an irrigation system create a secluded and relaxing oasis.
This well-maintained home has had an efficient tankless water heater and new HVAC installed in recent years. For discerning buyers, the property has been professionally inspected and a comprehensive home inspection report is available in documents.
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Cap Rate Calculator
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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 22, 2024 | In contract | - | |
| In contract | |||
| May 9, 2024 | Price Decreased |
$749,900
↓ $25K
(3.2%) | |
| Price Decreased | |||
| Apr 26, 2024 | Price Decreased |
$774,900
↓ $25K
(3.1%) | |
| Price Decreased | |||
| Mar 28, 2024 | Price Decreased |
$799,900
↓ $25K
(3%) | |
| Price Decreased | |||
| Mar 14, 2024 | Price Decreased |
$824,900
↓ $25K
(2.9%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017