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3281 E Joseph Way
About This Property
Inside, vaulted ceilings and upgraded flooring create a bright, open feel throughout the home. The front room features a wall-mounted electric fireplace, adding warmth and character to the space. The kitchen has been beautifully updated with granite countertops, tile backsplash and stainless steel appliances, while both bathrooms have been remodeled, including a complete renovation of the primary bath. The primary suite is filled with natural light and overlooks the beautifully landscaped backyard, and every closet in the home has been upgraded with Classy Closets for added storage and organization.
Step outside to a low-maintenance backyard featuring artificial turf, an extended patio with stamped concrete and powered sunshades, creating an inviting outdoor living space to relax or entertain year-round. Major improvements have been taken care of as well, including a new roof in 2021.
The community offers biking and walking paths along with a children's playground. If you've been searching for an updated, move-in-ready home in Gilbert with a beautifully finished backyard and easy access to everything that makes Gilbert such a desirable place to live, this one checks all the boxes.
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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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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017