4501 3rd AVENUE NW
About This Property
Located just a quarter mile west of the famed Riverview Boulevard address and a quarter mile south of the Manatee River, this property presents an exciting opportunity. The existing 1600+ square foot home and 700+ square foot garage await your creative vision. While the home requires significant renovation or a complete rebuild, its potential is immense. Whether you envision a cozy retreat or a modern masterpiece, the canvas is yours to shape. The sturdy garage offers ample space for storage or conversion into additional living areas. Plus, with no existing driveway, you have the freedom to design it as you please. Mature trees provide shade and privacy, enhancing the overall appeal. Investors, take note: Prime location and room for improvement make this property a valuable investment!
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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