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3420 Charles Ave
About This Property
Situated on a 5,000 SF lot and currently configured as 5 bedrooms and 2 bathrooms, the home is an opportunity to create your perfect home. The existing front porch adds a sense of character and arrival, while the lot offers room to thoughtfully enhance the property over time.
Future improvements, additions, exterior changes, and other redevelopment plans may be subject to applicable historic preservation review and approvals. The property is currently tenant occupied and can remain so while future plans and permitting are pursued. The buyer will need to verify current configuration, permit history, dimensions, and any allowable improvements. There are driveways on either side of the property.
For the buyer who values location, legacy, and the chance to create something meaningful within an important historic context, this is an uncommon offering in the Grove. NOTE SEVERAL PICTURES ARE VIRTUALLY STAGED TO SHOW ENDLESS POSSIBILITIES FOR THIS HOME
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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 Southwest Coconut Grove
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017