5049 FAIRVIEW LANE
About This Property
A rare offering of history and modern comfort, this meticulously maintained circa 1820 estate rests on 15.38 serene acres with expansive views, charming outbuildings, and an exquisitely updated main residence. Blending historic character with thoughtful, high-quality renovations, this is a home that tells a story-while being move-in ready for modern living.
The main house features three bedrooms, two and a half baths, and is rich with character: three working fireplaces, original wide-plank floors (refinished and oiled), and all walls replastered. The remodeled kitchen is a chef's dream boasting custom cabinetry, soapstone countertops and sinks, a Calcutta marble island, and top-tier appliances including a coveted Cobalt Blue Heartland appliance package and an additional Viking oven, and beverage cooler. The primary bathroom has been fully remodeled, while the hall bath retains its period tile and tub with a new vanity and toilet. A stylish half bath completes the updates.
The home's systems and structure have been carefully preserved and enhanced: Slate roof repaired, copper gutters installed, windows reglazed, including custom reproduction windows in the basement, stone foundation restored, Air-conditioning added on the main and upper levels.
Renovated spaces include: Sunroom with all-new windows, insulation, copper roof, drywall, and siding, laundry room with new slate roof, door, window, steps, and siding, finished attic offices (two rooms) with spray-foam insulation, drywall, and refinished floors.
The guest house is a charming, fully updated retreat with two bedrooms, one bath, a lofted living space, and updated plumbing, electric, windows, siding, and heat pump. It also features a remodeled kitchen and bath, two tankless water heaters, and a relaxing front porch with wonderful views of the property.
Outbuildings include a classic stone barn (repaired siding, restored stonework, new metal roof), smokehouse (brick repaired, new slate roof), and shed-all surrounded by breathtaking views that change with the seasons.
This exceptional property offers a piece of history with all the modern conveniences. Truly one-of-a-kind.
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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%.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017