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38 Mitchell Avenue
About This Property
Inside, the thoughtful floor plan features large windows that flood the living spaces with abundant natural light, creating a bright and airy atmosphere that highlights the home's comfort and classic Asheville character. Practical features include highly coveted off-street parking and a spacious basement that offers valuable storage for bikes, outdoor gear, and seasonal items. Enjoy front porch living as neighbors stroll by, or unwind in privacy on the covered back deck.
Step outside to the level, fully fenced backyard-a rare and highly desirable find in West Asheville. This sunny, usable outdoor space is perfect for pets, entertaining, or starting your own sustainable garden. Combining historic charm, sun-drenched interiors, and an unbeatable location, 38 Mitchell Ave is the ideal place to call 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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Address: 335 Madison Avenue, New York, NY 10017