61 Berea Road
About This Property
You'll find wide plank wood flooring throughout the entire home. First floor has a kitchen that is perfect for cooking and entertaining with an open floor plan, double Dutch doors, side staircase, fireplace and hand-hewn beams. Separate laundry and utility room off kitchen. Extra-large living room currently being used as an office has a fireplace and hand-hewn beams. There is a center hall staircase, a charming library, dining room and full bathroom with clawfoot tub. On second floor, there is a very large primary bedroom with fireplace with a bathroom that includes an in-shower steamer, private make-up area and large walk-in closet. Three additional bedrooms on second floor, one bedroom has a 6ft x 20ft cubby perfect for a hideaway or storage. Second floor bathroom has laundry chute. House has plenty of storage with full attic and basement.
Outside, the home has a front rocking chair porch, there is a back screened in porch that overlooks a large backyard and a side deck off the pool that's great for entertaining. There is extensive landscaping that include mature trees and an inground pool with lighting and blue slate patio. There is a circular driveway. The house and 2-car detached garage with second floor storage have new roofs and new gutters.
The barn is something to see. It has 3 levels with a slate roof, cupola, weathervane and large sliding barn doors. This barn has 3 entrances, two entrances on the first-floor level and one entrance to the second floor. The entire barn is spectacular and has been engineered to light up at night. Barn has a separate meter with an updated 220 AMP service. Bottom is currently being rented for $450 per month with a reliable month-to-month tenant.
This property is 10 minutes from Stewart Airport and major highways like 84 and NYS Thruway and 90 minutes to NYC. Additional Information: HeatingFuel:Oil Above Ground,ParkingFeatures:2 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%.
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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