4404 EVERGREEN DR
About This Property
The roof was replaced approximately eight years ago and should offer many years of useful life. The original hardwood floors flow throughout the main level and with just a little refreshing they will look even better. The living room is spacious and offers excellent natural light due to the large window. Each of the bedrooms are a good size and have decent closet space and the primary bedroom has an attached private bath.
The lower level offers an inviting family room with an exposed brick wall and an electric fireplace. It is on the walkout level to the patioThe home offers good storage options. The driveway is wide allowing for the new owner to park multiple cars. The patio and screened in porch are great for gatherings, and the fenced backyard ensures privacy.
The home is close to parks, paths, Neabsco boardwalk, schools, Stone Bridge shopping center, community center, library, and Lake Montclair for leisure activities.There is even a farmers market every Sunday in the commuter lot. The nearest bus stop is just a 6-minute walk away for easy commuting.
Note that some work is needed, including fixing the air conditioning system, replacing the washer, dryer, and cosmetic touches. The property is being sold as is, allowing you to customize renovations to your liking. Put your touches on this home and you will have one that you'll enjoy for many years.
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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 Evansdale
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017