409 West Avenue
About This Property
For the first time in its 115-year history, the fabulous "Merrem Mansion," as it's been known to locals for generations, is on the public market! Boasting three levels, with approximately 5000SF of living space, it's located on 2 beautiful acres with stunning, mature trees. The uniqueness and grandeur of this home must be seen to be appreciated. The original rewired lighting fixtures are magnificent, as are the exceptional ceilings in the library, dining room, and formal entry. Original pulley windows in this home were all taken apart, reworked, reassembled, and replaced by the current owner. The entire house has been rewired, insulation blown in, original floors uncovered where needed, and style-appropriate shutters specially built and installed. Whether you're looking for a fabulous home. A peaceful home located near the center of our lovely small town, this gem deserves a look!
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Cap Rate Calculator
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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 5, 2023 | Sold | ||
| Sold | |||
| Sep 7, 2022 | Listed by Bubela & Associates, Inc | $595,000 | |
| Listed by Bubela & Associates, Inc | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017