504 ATLANTIC AVENUE
About This Property
Recent improvements include a new roof, new kitchen cabinets, new water heater, and new vinyl flooring, providing a fresh start for its next owner. The home offers comfortable single-level living with three bedrooms and one full bathroom, making it an appealing option for those looking for a manageable home without sacrificing space.
Conveniently located just off Old Ocean City Road near the Route 50 cloverleaf, the property is east of downtown Salisbury with easy access to major roads, shopping, dining, employment, and everyday conveniences. Salisbury University is approximately 15 minutes away, adding appeal for homeowners, parents, or investors looking for a property near the university.
Whether you're looking to purchase your first home, simplify your lifestyle, or add an income-producing property to your portfolio, this well-priced Salisbury home is worth a closer look.
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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