311 FAIRLEA DR
About This Property
This home has some fabulous upgrades such as honed quartz kitchen countertops from In Home Stone, solid wood doors and loads of built-ins with stain grade counters. The kitchen has an extra thick stainless steel under mount sink with top of the line faucet and matching pot filler. The dining room has a beautifully designed and crafted floor to ceiling buffet for display, bar area and storage. All the trim on the door casings are made with Poplar wood and the West facing windows have a U/V film to reduce energy consumption. There is a cedar closet in hall and charming, under stair drawers were designed for extra storage. The living room has a custom TV built-in space and window treatments from Calico Corners in Annapolis. The fireplace surround is made with oak and has solid walnut dentils and soapstone herringbone hearth. The primary bedroom has a custom built-in dresser with large deep drawers and wood closet doors with pull out clothes valet. There is a double vanity in the primary bath with extra thick countertop, polished nickel fixtures, heated marble floors and PVC cove molding. The second level has two great bedrooms and wonderful lounging area or kids play space. There is also lots of storage in the fully insulated knee walls.
The crawlspace has been totally encapsulated with extra thick vapor barrier that goes all the way up to the floor joists. Insulated spray foam has been sprayed around the entire area where the house meets the foundation for energy efficiency and New Furnace and AC in 2020.
Expansive double lot with plenty of room to build a large detached 2-car garage. Large 20x20 deck for relaxing or grilling with friends and a 10 ft. privacy fence. Water privileged Community with pier, beach and more. Store your kayak or paddleboard just around the corner from the house. This home has it all!
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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%.
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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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About Londontowne
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017