552 FOREST Street
About This Property
Richard Gibbs selected this lot and designed a main cottage with guest cottage for his personal residence during his tenure as Seaside's town architect. The cottages are surrounded by a grove of oaks on a quiet lot overlooking Forest Street Park. The embellished screened porch runs the entire length of the main cottage. Two bedrooms with private baths, along with laundry room are located on the first level. An outdoor shower is tucked under the stairway that leads up to the second floor. The great room is the true heart of the cottage. Interconnected living, dining and kitchen areas offer easy living. The dramatic raised ceiling with exposed cypress beams adds volume allowing sunlight to cascade into the cottage from the side porch windows and door. Interiors colors are warm and inviting with comfortable furnishings. A built in desk with bookcase is flooded with soft sun light from the bay window. Take a midday nap in the hammock or have an intimate dinner on the upper porch. The kitchen is located at the rear of the cottage with a tall bank of windows perfect for watching an array of native birds passing through. Continue up the spiral stairs to the widow's walk with the most astounding views in town and is a perfect perch for watching shooting stars. The separate guest cottage continues with the magical playfulness of the main house but with its own personality. The cottages are built with time tested materials.
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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