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About This Property
Located in the gated community of East Lake Reserve at Narcoossee, the property welcomes you with a long paver driveway, lush landscaping, stone accented elevation, and an oversized side entry three car garage. A covered front porch and double door entry open to a bright and spacious interior with soaring ceilings and an open layout designed to showcase the lake views.
The main living room features vaulted ceilings, built in architectural niches, and large sliding glass doors that frame views of the pool, backyard, and lake beyond. Natural light fills the home through expansive windows and skylight, creating a bright and airy atmosphere throughout.
The kitchen serves as the heart of the home with quartz countertops, solid wood cabinetry, modern appliances, a prep island, and a spacious breakfast bar with seating. The open design flows seamlessly into the living and dining areas, making it ideal for entertaining.
A formal dining room sits near the foyer and provides an elegant space for gatherings, while a dedicated office near the front of the home offers a comfortable workspace with natural light.
The split bedroom floor plan provides privacy for the spacious primary suite, which features French doors opening directly to the lanai, pool, and breathtaking lake views. The suite includes a large walk in closet with custom built in organization, and a beautifully updated bathroom with dual vessel sinks, granite counters, a soaking tub, and a separate glass enclosed shower.
Three additional bedrooms and two full bathrooms are located on the opposite wing of the home, including a bathroom that conveniently serves as a pool bath.
Outdoor living is where this property truly shines. The expansive screened lanai surrounds the pool and heated spa and overlooks the beautifully landscaped backyard and lake beyond. A fully equipped outdoor kitchen with vent hood, grill, sink, and extensive counter space creates the perfect setting for entertaining while enjoying the water views.
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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