553-555 Norman St
About This Property
Unit 553: A 3-bedroom, 1-bath rental with a long-term tenant in place, ensuring steady income.
Unit 555: Fully furnished and operating as a successful Airbnb. Recent updates in 2022 include a brand-new kitchen, fresh paint, updated flooring, and a remodeled tub surround.
Exterior improvements such as new siding and paint were also completed in 2022. An ideal opportunity for both long-term and short-term rental income!
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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.
You can learn more about cap rate here .
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 19, 2024 | Listed by DEACON & HOOVER REAL ESTATE ADVISORS LLC | $344,900 | |
| Listed by DEACON & HOOVER REAL ESTATE ADVISORS LLC | |||
Property Highlights
553-555 Norman St
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Comparables
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Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
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DEACON & HOOVER REAL ESTATE ADVISORS LLC
Last Updated: 23 days ago
Data Source: WPMLS , MLS# 1672707
