321 5TH Street
About This Property
'Fabulous 5th' deserves a special shout out...this is truly a cool culture within the coolest of barefoot beach cultures! Evening porch parties are common; neighbors chat on the 5th Facebook page, exclusively by and for 5th St neighbors; the street closes for holiday parties and parades celebrating Easter, Halloween, Super Bowl, July 4th...the list includes any event worth celebrating! 5th St neighbors seem to become instant family!
Updates by the current owner include the addition of gorgeous Highland Hickory engineered flooring upstairs, remodeled powder bath clad in ship lap, fully renovated primary bath shower (taken to the studs), white painted kitchen cabinets with new hardware, kitchen faucet, interior and exterior lighting (cans, foyer, powder room, dining room, pendants, front light post, entry porch hanging light), full exterior paint, landscape, installation of shallow well and pump, several new irrigation heads, exterior shutters, commercial grade electric 50 gal water heater, garage door keypad. Salt water pool improvements include heated jacuzzi, pump, zodiac cleaner, filter, salt cell, and filter element replacement. Also noteworthy...the Washer (Speed Queen - best!) and Dryer are brand new.
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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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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017