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516 MANNAKEE STREET
About This Property
Located in one of West Rockville's most established and desirable neighborhoods, 516 Mannakee Street offers a unique chance to renovate, restore, or reimagine a home in an incredible location. The property has experienced fire damage and is in need of major rehabilitation, making it an ideal opportunity for an investor, contractor, builder, or buyer looking for a substantial renovation project.
Set on a 9,356 square foot lot, the property offers more outdoor space than may be immediately visible, with the lot extending beyond the rear fence. Site plat stakes with blue ribbons help indicate the approximate rear portion of the property.
Enjoy the convenience of living within Rockville City limits near Woodley Gardens Park, Woodley Gardens Shopping Center, College Gardens Park, Rockville Town Center, shopping, restaurants, movie theaters and everyday amenities.
Close to I-270, RT-28, RT-355, Metro Subway, MARC & Amtrak Train Stations.
The home feeds to Beall Elementary School, Julius West Middle School, and Richard Montgomery High School.
Property is being sold strictly as-is. Cash, renovation loan, or construction financing may be required.
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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