523 SE 31ST AVENUE
About This Property
Located just 5 minutes from Ocala's Historic Downtown Square Ocala Highlands, this charming 3-bedroom, 2-bath home offers endless possibilities for homeowners, investors, or those seeking a renovation project with great upside potential. Situated on a desirable corner lot, the home features multiple living spaces including a formal living room, family room, and dedicated dining area, providing flexibility for a variety of lifestyles.
The kitchen offers a breakfast bar, abundant cabinetry, built-in storage, and plenty of workspace. Original hardwood floors add character throughout the formal living room, hallway, and bedrooms. Several important updates have already been completed, including updated plumbing, a renovated guest bathroom, a new toilet in the primary bathroom, newer gas water heater.
It needs a new dishwasher and the exterior add ons need some remodeling. Master Shower needs remodeled.
Additional improvements include a roof with added insulation completed in 2008, as well as an A/C system and ductwork that are approximately 3–4 years old. Whether you're looking to create your dream home, add to your investment portfolio, or explore short-term rental possibilities, this property presents an exceptional opportunity in one of Ocala's most convenient locations. Is a possibility this could pass for a conventional loan.
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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