319 Tillamook Drive
About This Property
The owners have added several improvements that make the home more efficient and comfortable. The solar panel system produces enough power that the electric bill runs a credit of about $15 each month. The Town of Wake Forest keeps this amount as a credit on the account. A new heating unit from Mitchell HVAC was installed less than two years ago. LeafFilter gutters, newer ceiling fans, and a storm door at the front entry add even more value.
Inside, the kitchen includes a refrigerator and dishwasher that are less than three years old. The living area has a gas fireplace for cooler nights. The sunroom was created by converting the former screened porch and adding vinyl windows, new doors, and updated locks. It is a quiet space for morning coffee or reading.
The backyard features a simple firepit area that offers a spot to enjoy time outdoors. The lot is about 0.19 acres with room for gardening or pets. Ting fiber internet is available with speeds up to 1 gigabit, which is helpful for remote work or streaming.
The home is close to Forest Pines Drive Elementary, Wake Forest Middle, and Heritage High. Joyner Park, shopping, restaurants, and major roadways are only minutes away.
319 Tillamook Drive is a well-cared-for home with energy savings, practical updates, and a convenient Wake Forest location. Contact us for more details or to schedule a tour.
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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