508 Willowbend Drive
About This Property
passion, there is ample pasture on this 10.64-acre lot to keep horses,
and there is a trail to ride them by the lake. It is all about lifestyle, an exemplary lifestyle that only a few will be fortunate enough to call their own. This oasis is only 8 miles from Franklin St. and the heart of downtown Chapel Hill. Gated and private, Willowbend Plantation is a well-kept secret. Renovations included:
new screen porch with full foundation and slate floor * new windows (Weather Shield aluminum clad) and doors throughout * new flooring throughout * new cabinets and countertops in the kitchen, mud room, and all baths * new roof and gutters * new fireplace and surround including floor to ceiling stone * all interior and exterior doors replaced * Emtek hardware throughout * new HVAC with ERV 14 seer system * shiplap walls and ceilings * Wolf and SubZero appliances * tile and lighting replaced inside and out * sealed crawlspace * cedar trellis over the new Clopay Gallery steel garage doors * replaced exterior boxing and trim * cedar ceilings, beams and accents * new great room and primary bedroom built-ins * re-positioned laundry with a mud room addition and sliding iron gate * barn doors for privacy in the study * and more
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017