53 Lower Terrace Dr
About This Property
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 23, 2023 | Sold | ||
| Sold | |||
| Aug 9, 2023 | Listed by Mountain Dream Real Estate, LLC | $265,000 | |
| Listed by Mountain Dream Real Estate, LLC | |||
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Step back in time to a little piece of paradise steps away from the Rio Grande River. With breathtaking views of the cliffs outside of Creede and wild animals strolling through the meadow that is your backyard, this house is nestled in one of the most coveted, private, and gated communities in all of Colorado. Lovingly maintained by the owners for the past 29 years, this one bedroom, one bathroom summer cabin has had many upgrades and additions. Local artisans have hand-crafted custom-made alder cabinets, aspen accents, vaulted ceilings with rough cedar, and the discovery of exposed logs in the bedroom show cozy mountain charm in each nook and cranny. From the custom kitchen granite table, to the addition of the 20X20 living room to showcase the meadow and mountain views, you will be in awe of every view from every room. Big picture windows, vaulted ceilings, a full size washer/dryer, and a small walk-in closet make the tiny cabin feel like you are ‘living large’. Professionally landscaped by the current owners, there are mature aspen and spruce planted decades ago to provide privacy and shade. Enjoy gardening in a raised bed with vegetables, or simply use the current watering system to keep the garden vibrant and lovely. There is room enough for 2 cars in the driveway, and ample storage for all your toys in the sheds. Big River Ranch is a small community with shared fishing access on the Rio Grande River. NO RENTALS ALLOWED and a private gated entry helps maintain a close knit community. It is currently NOT set up for winter use due to being on the shared well and septic and electric only heat. It’s an easy ‘show up and leave’ kind of place where you don’t have to worry about a thing while you’re away! HOA dues cover water & sewer (May to October), trash service, and common area maintenance. You only pay separately for electricity and Wi-Fi. Wild turkeys, deer, fox, bear, and so much more also call this place home.
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| Aug 15, 1994 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017