426 Riverleigh Avenue
About This Property
An unfinished basement provides ample storage or future finishing possibilities. The property also includes a detached one-car garage, a storage shed, and a spacious backyard with plenty of room for outdoor entertaining, gardening, or recreation.
Enjoy being just minutes from downtown Riverhead, where you'll find a variety of local shops, restaurants, breweries, entertainment, and the vibrant Peconic River waterfront with its scenic walking paths, parks, and seasonal events. The property's convenient location also provides easy access to wineries, farm stands, and everything the East End has to offer.
While the home is in need of updating and repairs, it presents an excellent opportunity for investors, contractors, or buyers looking to build equity.
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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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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017