397 FORELANDS ROAD
About This Property
Inside, the first floor is reminiscent of a lodge-style retreat with vaulted ceilings and blue knotty pine wood floors reclaimed from a 1900s South Carolina mill. The open floor plan features a masonry stone fireplace, a gourmet kitchen with marble countertops, and a spacious screened porch for entertaining with big vistas across the property. The en-suite primary spa bath includes porcelain tile floors and marble countertops. Two primary suites plus a third bedroom/office are located on the main level.
The walkout lower level provides flexible living space with a potential bedroom/sitting room, full bath, concrete flooring, and abundant storage. Enjoy spectacular sunsets, a gravel driveway with ample parking, and the feeling of being worlds away-yet just minutes from Whole Foods, Starbucks, and everyday conveniences. Seller prefers a 60 day close and all prefers to sell 95% of all furniture.
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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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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017