5503 CR 1
About This Property
This beautiful 40 acre parcel is located just 6 miles north of Cripple Creek along Teller Road #1 which is a designated scenic byway. The land consists of a perfect mix of mature alpine forest of spruce, pine and aspen surrounding lush mountain meadows. Ideal parcel for horses and your vacation or retirement home. Numerous building sites with power and phone on the parcel. Great mountain and valley views including views to the Continental Divide. Driveway is already graded in and there is a small spring fed pond. This property is a wildlife haven for being just a 40 acre parcel. You will commonly see mule deer, elk, turkey, and even big horn sheep. The aspens on this property are some of the most vivid and scenic aspen along the scenic highway. The property qualifies for a domesticwell permit.
This superb parcel does not have any covenants or HOA fees and has a driveway access from the adjacent property already in place. It currently has Agricultural status and the 2020 Real estate taxes were only $18.88. Great parcel for a log cabin and guest cabin because of the numerous building sites.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017