5375 MAD RIVER LANE
About This Property
Pride of ownership shines throughout this updated Split Level with one car attached garage, ideally located in the heart of Columbia. The backyard is an oasis and private retreat, with lush landscaping, multiple spaces for outdoor relaxing and dining, including a stone patio, spacious deck, and a large screened-in porch with luxurious hot tub, all with stunning treed views. The renovated kitchen provides gleaming granite counter tops and center island with room for stools, gas cooking, tile backsplash, custom built-in wine rack, spacious dining area, and is light-filled due to the 3 skylights and vaulted ceiling. The family room is anchored by a brick wood burning fireplace with mantel, and also has a vaulted ceiling, as well as an arched transom window bringing in abundant natural light, and French doors leading to the private rear patio. The formal dining area is open to the living room, with a slider to the rear deck, making indoor-to-outdoor entertaining seamless. Gorgeous hardwood floors flow throughout all living spaces on the main level. On the upper level, you will find four generously sized bedrooms, including an impressive owner's suite, which has been expanded due to an addition on the rear of the house. The owner's suite features newly refinished hardwood floors, generous closet space, French doors to the screened-in porch, and a gorgeously renovated en-suite bath with quartz vanity and impressive oversized shower with upgraded floor to ceiling porcelain tile and built-in bench. The lower level features an expansive rec room with brand new neutral carpet and a 3rd full bath, all freshly painted, as well as a large storage room. Substantial updates include HVAC, roof, hot water heater, and skylights. This one has it all – high quality updates throughout, abundant space, and amazing outdoor spaces!
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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%.
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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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About Columbia
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017