608 Elevar Court
About This Property
The kitchen has been redesigned with all highly upgraded components, cabinets, counters, and fixtures, at an approximate cost of $85,000. The master bathroom has also been transformed, featuring a party-size shower, a free-standing tub, a custom 3/8" glass enclosure, new tile, cabinets, and Quartz counters, with an approximate cost of $60,000. The home now boasts mostly porcelain tile flooring on the first floor and in all three bathrooms. New granite tops have been installed on the laundry cabinets, entry pony wall, and entry niche, along with additional recessed lighting throughout the home.
The recent upgrades represent a cost of well over $200,000. Notably, this is one of only two Plan #4 models in the development that includes two separate air conditioning systems.
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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 |
|---|---|---|---|
| Aug 2, 2024 | Sold | ||
| Sold | |||
| May 15, 2024 | Listed by eXp Realty of California Inc | $1,185,000 | |
| Listed by eXp Realty of California Inc | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017