45245 IRIS Boulevard
About This Property
This is an amazing deal for an investor or home owner in the desirable Callahan area! The long driveway, takes you back to a beautiful private wooded approximately 4 acres with a pond, located at the end of a cul-de-sac. It offers many options to an investor or for a primary residence home owner. There is an older doublewide mobile home, the Nassau County Records show a 1993 MH with a metal roof and aluminum siding that is AS-IS and included in the price. The mobile home needs TLC and could be rehabbed for a rental, permanent or temporary home to use while a new home is being built on this private property. In addition, it is already equipped with a well, septic, drain field and electricity., fenced area that could be used for horses, dog pen
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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