607 37TH STREET W
About This Property
Buy a proven operation, not a project. The property has run continuously on Airbnb and VRBO for 2.5 years with 75+ five-star reviews and a $565 average nightly rate. Transfers fully equipped and guest-ready; trailing financials available on request.
The two-unit layout is what separates it from the surrounding new-construction rentals: four king bedrooms plus a bunk room, no shared walls between households. Works equally for two-family groups, multi-generational travel, or as a primary residence with income from the guest house.
Outdoors: 9x20 heated swim spa/pool, 3-hole mini golf, gas grill and dining under a string-lit pergola, fully fenced yard with lush landscaping. Fully redone in 2023 with metal roof, pool heater (2026), guest house tankless water heater (2026), main house water heater (2025). Revenue achieved on current finishes, with upside for a buyer who wants to push rates further. 1031 exchange buyers welcome. Square footage is estimated; buyer to verify all measurements.
Payment Calculator
Your Estimated Monthly Payment
Cap Rate Calculator
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