4956 Downing Avenue
About This Property
A reliable construction company has been lined up, with a contract in place detailing the full construction costs. The seller has already paid a $38,000 deposit, which will be honored and transferred to the new buyer. Additionally, the RTI building permit is expected in just four weeks, allowing for a seamless transition to begin construction.
The lot is fully equipped with all utilities available in the street and offers space for a potential future ADU. Conveniently located near Santa Fe Dam Recreational Area, this property also provides easy access to shopping, dining, and freeways. With all the groundwork completed, this is a great opportunity for buyers looking to build their dream home without going through the process of pre-construction approvals.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Mar 13, 2025 | Sold | ||
| Sold | |||
| Mar 1, 2025 | Listed by RE/MAX MASTERS REALTY | $298,000 | |
| Listed by RE/MAX MASTERS REALTY | |||
Property Highlights
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About Baldwin Park
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017