485 SEVERNSIDE DRIVE
About This Property
Incredible new listing in the sought after community of Ben Oaks on the Severn. This home is situated on one of the largest lots in the community at just over half an acre. It backs to woods and offers serene views all year round. The renovated kitchen features quartz countertops, new kitchen cabinets, stainless appliances and a spacious pantry. The main level features a large family room, living area and separate dining room. The main and upper levels feature gleaming hardwood floors. The upper level features three spacious guest bedrooms and a renovated hall bath. The primary suite offers gleaming hardwood flooring, spacious walk in closet and a quaint deck perfect for enjoying your morning coffee. The renovated primary bath has a newer double bowl vanity and walk in shower with custom tile work. The finished basement provides a rec room and a full bath. There is an oversized 1 car garage and a driveway that can accommodate 4 cars with an additional gravel pad beside the house for potential boat storage. Other notable updates are new Hardie Board siding and the front porch and back decks have been totally redone. The community offers a 60+ slip marina, boat ramp, two dry mooring areas, spring fed pond (with lifeguards and swim team in the summer) and community events all year round.
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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%.
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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 Severna Park
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017