603 Ridge Dr
About This Property
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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 |
|---|---|---|---|
| Sep 6, 2024 | Sold | ||
| Sold | |||
| Aug 14, 2024 | In contract | - | |
| In contract | |||
| Jul 18, 2024 | Listed by Mountain Dream Real Estate, LLC | $115,000 | |
| Listed by Mountain Dream Real Estate, LLC | |||
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A few minutes drive from downtown Creede, this one acre lot is located southwest of Creede, Colorado in the Southern San Juan Mountains. The homesite is ready to build with a registered and permitted well and septic in place for a 3 bedroom 2 bathroom home. Electricity is also in place, with a breaker box and ample electrical capacity for all size projects. Overlooking the neighborhood, and backing to the airport runway, there's also a driveway in place with a perfect spot to build up on the natural ridge on the property. All owners in Holiday Acres enjoy an interest in a common fishing easement along the Rio Grande River, 1200 feet of prime Gold Medal Waters river fishing. 360 degree views of the San Juan Mountains and Rio Grande River Valley. Build your own custom home, or bring a modular home, this property is zoned for both! Walk to the airport (ALS), Creede School, and to Mineral County Fairgrounds. ATV's are permitted so you can drive into Creede and the Bachelor loop. Fifth wheel and shed are also included with the property. Short term rentals ARE allowed. Creede, a historic mining town turned vibrant mountain community, offers residents a unique blend of small-town charm and modern amenities. Explore the charming downtown area, where historic buildings house quaint shops, restaurants, and cultural attractions. From the acclaimed performances at the Creede Repertory Theater to the engaging cultural events organized by the Ladies Aid Organization, there's always something to explore and experience in this charming mountain town. For outdoor enthusiasts, Creede serves as a gateway to a wealth of recreational opportunities. Just an hour's drive away lies the renowned Wolf Creek Ski Area, known for its legendary snowfall and pristine powder. Skiing, snowboarding, snowshoeing, snowmobiling-- the possibilities for winter adventure are endless.
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| Sep 19, 2006 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017