3591 County Rd 406
About This Property
This 10.5 acre property is located in the Bria Bend Subdivision. Much of the property is pastured with large trees along and near the road, as well as toward the back of the property. The property is fairly level with a slight slope downward from the road to the back of the land. The pond/tank is estimated at 1/3 acre and has retained water throughout ownership. Since 2021, the pasture areas have been periodically mowed. No animals have been pastured since early 2022.
Other Improvements include the following:
-The electrical power lines shown on the survey were removed as were the old metal building(s).
-Two electrical power poles/meters were installed by the BlueBonnet ElectricalCooperative with feeder lines located near or along perimeter fence lines. We pay $45/month to maintain access to power (usage charges are additional).
-The power drop in the southeast corner of the property is currently servicing the water well. The second power drop is located in the northwest quadrant of the property (near likely homesite).
- Water well - The well was inspected in 2021 and the well-house and topside mechanicals were rebuilt in 2022.
-The storage container located in the back of the property would remain with the property.
-A shooting range with a railroad tie and earthen backstop was built on the property in 2023.
-Property perimeter was newly fenced and gated in 2021.
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Cap Rate Calculator
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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 23, 2024 | In contract | - | |
| In contract | |||
| Apr 11, 2024 | Listed by Pure Realty | $299,900 | |
| Listed by Pure Realty | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017