42 Gregory Road
About This Property
Unlock the full potential of 42 Gregory Road, a 1,560sf three-bedroom, two-bathroom house with a garage situated on a 1.10-acre lot in the Sackett Lake neighborhood of Monticello. The house needs a full rehab, so this is a cash only sale. The sale includes an adjoining 0.39-acre buildable lot. Sackett Lake is a highly desirable area with high demand and low inventory. The finished product will be well worth the effort as the house's ARV is above $400,000.
There are two bedrooms and one and a half bathrooms on the main level, as well as a bonus room with a bar, and a laundry room. The massive primary bedroom encompasses the entire upper level and has an ensuite bathroom with a sauna and a deck.
The Village of Monticello is less than 10 minutes away, offering a plethora of shops and restaurants, including large stores such as Walmart, Shoprite, Marshall's, Old Navy, Starbucks, Five Below, & Home Depot.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017