3400 MERLE DR
About This Property
Welcome to 3400 Merle Drive, a charming three-bedroom, two-bathroom single-family home brimming with potential! This three-level property offers ample space and is situated in a fantastic location with easy access to the 695 Beltway and just a short walk from Liberty Road.
While the home is in generally good condition, it does need some repairs and TLC, including new carpeting and a fresh coat of paint. With a little bit of sweat equity, this house could truly shine, making it a great opportunity for first-time homebuyers looking to customize their space or for investors seeking a promising property.
Priced at what is owed on a reverse mortgage, this property is listed **AS-IS**, as the seller is unable to fund any upgrades or repairs. However, recent neighborhood comps show much higher values, underscoring the untapped potential of this home.
The property includes a rear exit, providing additional convenience and access. The layout offers flexibility, with three bedrooms that can accommodate a growing family or offer space for a home office or guest room. The full basement and additional storage options are perfect for organizing and maintaining a clutter-free living space.
Don't miss out on this diamond in the rough! If you're looking for a home to make your own or a solid investment, this is your chance. Only serious buyers, please. Schedule a viewing today and see the potential that 3400 Merle Drive has to offer!
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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.
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About Milford Mill
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017