540 DREW AVENUE
About This Property
This classic traditional home is filled with warmth, character, and incredible potential. Step inside onto hardwood floors that span throughout a spacious formal living room, anchored by a cozy wood-burning brick fireplace. The hardwood extends into a formal dining room that offers complete flexibility ideal for a home office or den.The kitchen features stainless steel appliances, granite countertops, a custom handmade tile backsplash, a walk-in pantry, and an oversized dinette complete with board-and-batten wainscoting. Through French doors off the kitchen, you'll find a versatile bonus room ready to become your dream family room, home gym, or playroom.
Upstairs, the primary suite includes a private sitting area framed by beautiful views of Shady Nook Lake, a dual-sink vanity, a walk-in linen closet, and a walk-in closet. Two additional spacious bedroom also featuring walk-in closets share the upper level and elevated lake views. Outdoor Features & Exclusive Bonus:Fully fenced backyard Direct Water Access & No HOA Restrictions: The deeded strip of lakefront land directly across the street in front of the home extends down to Shady Nook Lake and conveys with the sale. Create your own private beach and swimming area without HOA hassle! Schedule your showing today to tour this lakeside 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%.
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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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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017