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603 64TH PLACE
About This Property
Situated on a spacious corner lot, the home features 4 bedrooms and 1.5 bathrooms, including 2 bedrooms and 1 full bath on the main level and 2 additional bedrooms with a half bath upstairs. A detached garage with electricity and a long driveway provide ample parking for multiple vehicles.
The property sustained damage from a frozen water pipe and is being sold in need of a complete renovation. The drywall, flooring, and kitchen have already been removed, providing a blank canvas for your vision. The HVAC system has been updated, offering a valuable head start on the renovation.
Conveniently located near shopping, parks, schools, major commuter routes, and just minutes from Washington. Renovated homes in the area have sold for up to $400,000, making this an outstanding opportunity to create significant value. Whether you're looking for your next fix-and-flip, buy-and-hold investment, or a home to customize with a renovation loan, this property offers incredible potential.
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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