40105 Johnston Avenue
About This Property
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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.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Dec 15, 2023 | No longer available | - | |
| No longer available | |||
| Nov 28, 2023 | In contract | - | |
| In contract | |||
| Oct 14, 2023 | Price Increased |
$230,000
↑ $11K
(4.8%) | |
| Price Increased | |||
| Oct 9, 2023 | Listed by Keller Williams - Riverside Central | $219,500 | |
| Listed by Keller Williams - Riverside Central | |||
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An amazing conversion to a charming home. The original structure of a barn/garage has been converted into a 2 bedroom plus a den/loft, 1 bath home. The two-story layout makes this 900 s.f. house seem much larger. A huge master bedroom with a walk-in closet and loft/den-office occupies the upper floor. The lower-ground level has a nice size bedroom, bathroom, spacious family room, dining area, and open concept kitchen. ** **The layout of the lot affords plenty of room for expansion. The 6,534 s.f. lot has plenty of space for an additional room, ADU, and carport or garage with center courtyard. Blueprints available for review, including design for an additional bathroom. ****** Living “off the grid” and living “off the land”. What makes this home unique is that it is fully self-contained with the use of solar and propane energy. Solar panels with battery storage provide electricity. (But if you want traditional power, it is accessible at a cost.) Many fruit producing plants and trees on this land; enjoy oranges, tangerines, apricots, dates, pomegranates, lemons, grapefruit, strawberries, and red and green grapes. ******* Conveniently located near downtown between S. Santa Fe Street and S San Jacinto Street on Johnston Avenue. Next door is an empty double lot on one side and 1123 Johnston Avenue on the other side. Note the neighboring house values are estimated $300,000 +/- making this converted barn home an incredible deal. The proposed pending postal address would be 1093 Johnston Ave, Hemet, CA 92543. The legal address is: 40105 Johnston Ave, Hemet, CA 92543. Buyers' loan options may be limited as some of the interior work was done without permits. This home is priced to sell! The great price is perfect for investors and first-time homeowners or anyone wanting to escape increasing rental rates and mortgage situations. Don’t miss this one-of-kind, cost-efficient, unique opportunity. CASH ONLY PLEASE. Property co-listed in vacant land, MLS#: IV23188482, Contact Christine: 951-347-6900 The manager has listed the unit size as 900 square feet.
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| Jan 9, 2021 | No longer available | - | |
| No longer available | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017