340 13th St
About This Property
The property comes fully fenced with a gate on the north and south sides, making it ready for livestock, horses, or anyone who wants a secured piece of rural land from day one. Electricity is already at the lot line, which is a genuine advantage over comparable parcels in the area. A well and septic would be needed for permanent use, and Fremont County allows mobile and manufactured homes with a minimum of 400 square feet, giving you flexible options for how and when you build.
The terrain is flat and usable throughout, with scattered large shrubs adding character to the otherwise open landscape. Whether you're looking to run animals, set up a rural homestead, park a manufactured home, or simply hold a solid 10-acre block outside of town, this parcel checks the box.
Penrose sits in the Arkansas River Valley with easy access to Canon City for shopping, dining, and services, and the Royal Gorge, Florence, and Pueblo are all within a short drive. Address may not take you to the property. Coordinates are 38.4112, -105.0366
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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