4918 DOWNLAND TERRACE
About This Property
This brick front beauty with a 3 car garage on a quiet street features top-of-the-line updates throughout. The main level offers a grand 2 story open foyer, living room, formal dining room, office with handsome custom cherry built-ins, renovated kitchen with state-of-the-art appliances/ elegant cabinets/Cambria Quartz countertops, spacious family room w/ gas fireplace, powder room and convenient mudroom. The extraordinary screened-in porch off the kitchen will be your new "go-to place".
The upper level features a dynamic owner's suite with 2 full bathrooms (one with steam shower) & walk-in closets, 2nd bedroom with ensuite bathroom, spacious 3rd & 4th bedrooms, shared hall bathroom and convenient laundry room.
The walk-up lower level offers great living & storage space which includes a large recreation room with gas fireplace, full bathroom and 2 other finished rooms.
Updates & upgrades include a 30 year architectural shingle roof, 2 HVAC systems, hot water heater, whole house built-in steam humidifier & de-humidifier, hardwood flooring, water softener, kitchen reverse osmosis drinking water system and windows & doors. The landscaping also features lighting and an exterior sprinkler system with a 2nd water meter hooked up so there are no additional sewer fees for water use on lawn.
A very special home that is a stone's throw from the heart of Olney, Rock Creek Park and the ICC. Norbeck Grove features community amenities that include a pool, tennis, tot lots, trails to Rock Creek Park and the list goes on!
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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 Olney
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017