46 Monell Avenue
About This Property
Step into a rare blend of history and modern comfort with this beautifully preserved 1877 Colonial, ideally located south of Montauk Highway in the charming hamlet of Islip. This expansive 5-bedroom, 2 full bath residence offers approximately 2,700 square feet of living space, rich with character and thoughtfully updated for today's lifestyle.
From the moment you enter, you'll appreciate the home's old-world charm, highlighted by a classic wood-burning fireplace and an inviting wood-burning stove, complemented by skylights and ceiling fans that fill the home with warmth and natural light. The main level is enhanced with energy-efficient mini-split air conditioning, offering comfort throughout the seasons.
The layout provides incredible versatility, featuring a bonus granny attic and a family room loft-perfect for extended living, a home office, creative space, or guest quarters. With abundant closet space throughout, this home seamlessly combines historic character with everyday functionality.
Set on a park-like property, the outdoor space is equally impressive, offering a spacious deck and gazebo-ideal for entertaining or relaxing in a private, serene setting. Both front and rear in-ground sprinklers keep the grounds lush and vibrant.
Additional highlights include:
Natural gas heating, hot water, cooking, and dryer
200-amp electrical service
Partial unfinished cellar with endless storage potential
All of this just a short distance to Islip's vibrant Main Street, with its renowned restaurants, shops, and waterfront charm.
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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 Islip
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017