5408 PATTERSON STREET
About This Property
Complete new plumbing, including the main line back to the meter.
Fully replaced electrical wiring, including panel, walls, attic, and crawl space.
New gas lines throughout the house.
Sanded and finished hardwood flooring throughout.
New off-street parking pad and stone path from the deck to the shed.
New kitchen cabinets and appliances.
New bathroom fixtures and ceramic tiles.
New drywall throughout.
New lighting throughout.
New gas heating system (2018).
New AC unit (2024).
New gas tankless hot water heater (2024).
New insulation in exterior walls and ceiling.
New outdoor electric storage shed with loft, lights, plugs, and exterior floodlight.
New 12x16 deck with floodlight.
New roof (2024).
New siding (2024).
New gutters, fascia, and soffits (2024).
New flooring in the attic for storage.
New windows and doors throughout.
New closet doors and interior doors.
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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.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017