535 Merrow Road
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 16, 2023 | Sold | ||
| Sold | |||
| Apr 3, 2023 | Listed by RE/MAX Destination | $500,000 | |
| Listed by RE/MAX Destination | |||
| Jan 7, 2023 | No longer available | - | |
| No longer available | |||
| Sep 18, 2022 | Price Decreased |
$500,000
↓ $100K
(16.7%) | |
| Price Decreased | |||
| Jul 5, 2022 | Listed by RE/MAX DESTINATION | $600,000 | |
| Listed by RE/MAX DESTINATION | |||
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First time on the market, this 77 acre property has been owned by the same family for generations. Tons of potential with approx. 1,200 feet of frontage for the 70.49 acre parcel and another 360 feet of frontage on the adjacent 7.19 acre parcel across the street being sold together. The land is full of stonewalls, old growth forest, a seasonal brook, and possibly gravel according to the family. There is a house built circa 1825 on the larger parcel in need of a total rehab (3 bed/1 bath). This could be split off with a “free cut” and develop the rest. The 7.19 acre parcel has an existing 2-car garage built in 1964. This land is around the corner from one of Coventry’s luxury subdivisions "Windy Hill". Fantastic location that is 4.7 miles to the University of Connecticut, 5 miles to I-84 highway ramp & 20 miles to Hartford. Seller is open to selling the 7.19 acre parcel separately. Maps on file at town hall.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017