409 5TH AVE
About This Property
Walk into the inviting foyer, the main level offers a large primary suite with electric fireplace/walk-in-closet/and ensuite bathroom, a second bedroom and bathroom with a claw foot tub, laundry room, dining room with plenty of windows overlooking your garden, a stunning living room with exposed beams and cathedral ceiling plus a stone fireplace, and an open kitchen with SS appliances, granite countertops, pantry, gas stove, and breakfast bar.
Go up the dual stairs and you'll find 4 more rooms including an artist studio with skylights, and one full bathroom, plus access to the large attic which is perfect for extra storage space. Go down to the basement where you'll find a large high ceiling space, currently used as a workshop and for storage (could be fully finished for extra living space), with access to the exterior. Tons of upgrades throughout, including replaced water and sewer lines, buried electric service, etc.
Washington Grove is a hidden gem, with about 100 acres of parkland and forest preserves, walking trails, a private swimming lake with beach and dock, fields and playground, basketball court, three tennis courts, sports fields, a Kids' library, small dog park, summer tennis lessons. The town of Washington Grove offers many events (such as the music weekend, 4th of July Parade, a 3 day Labor Day celebration, Halloween parade, ...). Great location, steps to the MARC train station, restaurants, shops, minutes to commuter routes- Shady Grove metro, I-270, 370, ICC, etc.
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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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About Washington Grove
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017