586 Riley Road
About This Property
This 3-bedroom, 1-bathroom home offers a unique investment opportunity for those looking to renovate and capitalize on its potential. With 1,536 square feet of living space situated on a generous 1.6-acre lot, with 4 car detached garage. This property is perfect for investors or anyone eager to create their dream home from the ground up.
Although the home requires updating and care, its prime location and large lot size make it a rare find. The surrounding area is well-developed, providing convenience and potential for a high return on investment once renovated. Close to Shopping, restaurants, and I84, Stewart Airport, & NYS Thruway.
Don't miss out on this chance to create something special in a great neighborhood. Additional Information: HeatingFuel:Oil Above Ground,ParkingFeatures:4+ Car Detached,
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Dec 2, 2024 | Sold | ||
| Sold | |||
| Sep 24, 2024 | In contract | - | |
| In contract | |||
| Aug 23, 2024 | Listed by Howard Hanna Rand Realty | $340,000 | |
| Listed by Howard Hanna Rand Realty | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017