518 Chaffee Drive
About This Property
The home has undergone extensive renovations including the removal of all popcorn and textured ceilings and walls. The property now features new kitchen cabinets, quartz countertops, and all new doors and windows. The two restrooms have been fully remodeled with frameless glass shower doors and standalone bathtubs. The fireplace has been upgraded with modern looking tile, and the house boasts all new luxury vinyl flooring. Additionally, fresh paint has been applied both interior and exterior, and the garage floor has been finished with epoxy. Conveniently located near major highways, shopping, and dining options.
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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