354 GRANT
About This Property
Welcome Home to this beautifully detailed 3-story Victorian offering over 4,000 sq. ft. of living space, set on approximately 2 acres with water access to a Salem River tributary (possible riparian rights). Full of charm, character, and opportunity, this home combines classic craftsmanship with thoughtful updates and modern comfort.
Step inside to find original chestnut trim, a turned chestnut staircase, and a stunning stained glass window that captures the spirit of this historic home. The updated kitchen is a true centerpiece-featuring a massive center island with seating, quartz countertops, stainless steel appliances, gas cooking, and a custom built-in hutch.
The first floor offers a parlor with wood-burning fireplace, living room, den, updated full bath, and a laundry/mudroom with side entry to the driveway. A spacious sunroom/family room addition-extending across all three floors-floods the home with natural light and adds valuable square footage.
On the second floor, you'll find a loft area, an updated full bath, and three large bedrooms (including a primary suite with walk-in closet and another with a bay window). The large bonus space above the sunroom could serve as a fourth bedroom, game room, studio, or home office, complete with additional storage.
The third floor offers even more potential, with three more additional bedrooms, a former bathroom space ready to be restored, and another flex room ideal for an office or hobby area.
Outside, enjoy water views and access for kayaking, fishing, or boating (no dock currently), plus a detached 2-car garage, an oversized pole barn, and a windmill-currently out of service but capable of being restored for electricity generation. All three structures feature newer metal roofs, and the home retains original pine flooring throughout.
This property of about 2 Acres (+/-) offers incredible space, land, and character at an affordable price-perfect for those looking to personalize a truly one-of-a-kind home. Whether you're a contractor, boating enthusiast, or simply need room for a large family or multiple home offices, this special property delivers endless possibilities and lasting value.
(Note: The corner of the property touches the flood zone, but the home itself is not located within zone)
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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