448 MELVIN
About This Property
The home has been fully updated from top to bottom, including new flooring, windows, siding, roof, gutters, and major systems. Durable luxury plank flooring runs throughout, complemented by a warm, neutral paint palette. The kitchen features a large island with seating, granite countertops, shaker-style cabinets with soft-close doors, and a full stainless steel appliance package.
The flexible floor plan includes a first-floor bedroom and full bath with walk-in shower, ideal for accessibility or guests. Upstairs, the primary bedroom offers a vaulted ceiling, private bath, and generous closet space, along with an additional bedroom and storage area.
Additional features include a full basement ready for finishing, recessed lighting, updated plumbing and sewer line, and a newer water heater.
Conveniently located near shopping, dining, major roadways, and just minutes to Philadelphia, with easy access to the shore.
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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 Glendora
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017