611 RIVERSIDE DR
About This Property
The home features many significant upgrades, including a brand-new well just installed in May 2023. Other recent upgrades include a new bulkhead and pier with a 10,000 lb boat lift, roof, siding, central AC/heat pump, main door, ceiling fans, some flooring, a retractable awning and several new windows. Sellers have initiated the process with the county and permits for a new septic system. With all of these big-ticket improvements, you'll be able to enjoy your private waterfront immediately.
The main level features both bedrooms, a spacious kitchen with ample storage, a full bathroom and a den which could be used as a 3rd bedroom or office. The semi-finished basement includes an additional bathroom and is currently used as a rec room but could be converted as an additional bedroom, office or many other uses. Outdoor shed compliments basement storage to provide plenty of room for your tools and toys. Voluntary community resident association offers private boat ramp and other amenities. This unique home could be used year-round or as a vacation home. If you are looking for an affordable move-in ready waterfront property with easy access to the Chesapeake Bay, you found it here!!!
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 11, 2023 | Sold | ||
| Sold | |||
| Jul 17, 2023 | In contract | - | |
| In contract | |||
| Jun 14, 2023 | Price Decreased |
$569,000
↓ $30K
(5%) | |
| Price Decreased | |||
| Jun 4, 2023 | Price Decreased |
$599,000
↓ $21K
(3.4%) | |
| Price Decreased | |||
| May 19, 2023 | Listed by RE/MAX One | $619,900 | |
| Listed by RE/MAX One | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017