400 Wylerhorn Drive
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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.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
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Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Feb 23, 2024 | No longer available | - | |
| No longer available | |||
| Jan 8, 2024 | In contract | - | |
| In contract | |||
| Nov 10, 2023 | Relisted | $598,888 | |
| Relisted | |||
| Oct 31, 2023 | In contract | - | |
| In contract | |||
| Sep 25, 2023 | Listed by Coldwell Banker Residential Brokerage | $598,888 | |
| Listed by Coldwell Banker Residential Brokerage | |||
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Lake view living! Canary Gables is it’s name and it is 2 levels, one up and one down, each with its own private entrance and a bird’s eye view of Lake Gregory. Live in one and rent the other. Light and bright, the many windows bring in the cool refreshing afternoon breezes & clean mountain air. The lake view from the living room and deck from each unit is stunning. The views of trees and mountains from the bedrooms leaves you feeling like you are on top of the world. As you drive up the mountain and start to decompress, you will find yourself breathing in the fresh air and feeling a million miles away from it all.
At night when the moon shines bright it casts light across the lake and when the moon is small, the stars are spectacular. From the kitchen and master bedroom, the view of the mountains out into the distance captures you as the sun rises over them in the morning. The home is perched above street level and is on a large lot with an enchanting view of the “glow” paddle boards on the lake in the summer. Blue Jays are out and about along with other many species of birds. The lake and town with restaurants, coffee bars, and shops is a short 1/2 mile away.
Both levels have laminate and tile flooring with carpet in the bedrooms. The upper level was just remodeled with new laminate flooring (not shown in pictures) and new carpet in the bedrooms. Other upgrades include new generator, AC, and gas logs in the fireplace making it cool and comfortable in the summer and warm and cozy in the winter.
As an existing successful vacation rental this cottage on the hill well surpasses the market average in terms of occupancy. It is rare to find a newer property (built in 2012) in the mountains that is also income producing with such great views and location.
The existing mortgage at 4.375% is assumable (lender fees may apply). A walkthrough video is available upon request. The manager has listed the unit size as 1488 square feet.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017