3222 MERRICK AVENUE
About This Property
The eat-in kitchen is built for everyday living and entertaining, featuring stainless steel appliances, granite countertops, center island, pantry, stylish backsplash, breakfast bar, and casual dining space. The open family room flows seamlessly from the kitchen, creating a bright and inviting gathering area.
The first-floor primary suite is a private retreat with patio access, walk-in closet, and ensuite bath with dual sinks, separate shower, and garden tub. An interior laundry room with cabinetry and counter space adds convenience. Upstairs offers four spacious bedrooms, including one with a private ensuite-perfect for guests or multigenerational living.
Step outside to your private lakefront oasis-a screened-in pool with water feature, covered patio, and tranquil lake and fountain views. Vinyl side fencing provides privacy while the open rear fence preserves the scenery.
Community amenities include a resort-style pool, playground, and gazebo, with easy access to I-95, shopping, and dining. With nearly 3,000 sq. ft., a pool, and water views, this home truly 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 Phillips Landing
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017