616 Heather Lane
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 |
|---|---|---|---|
| Mar 3, 2025 | Sold | ||
| Sold | |||
| Apr 25, 2024 | Listed by Century 21 Legacy | $544,900 | |
| Listed by Century 21 Legacy | |||
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Privacy, long-range mountain views, and room to expand come with this freshly-updated home on two lots totaling over 9 acres near Douglas Lake. The focal point is the great room with a window wall and a stone-faced wood burning fireplace (with electric insert) climbing to the cathedral ceiling creating a partition wall. Behind the partition is the kitchen/dining area with white cabinets, granite tops, and sleek stainless appliances. The spacious master suite sports a large walk-in closet and private bath. while at the other end of the split floorplan the hallway leads to the second bedroom, a bonus room with bunk beds, a shared full bath, and a laundry room with full-size washer & dryer. There are two catwalk-connected covered decks in the front perfect for watching the clouds roll across the mountains, as well as an open deck perfect for grilling in the back. A carport for your ride and a new storage shed round out the improvements, while the second lot has its own septic approval if you want to build another home. Located less than 15 minutes from Sevierville, this home is perfect as a residence or profitable vacation rental - schedule a private showing today!
| |||
| Jan 18, 2023 | Listed by Century 21 Legacy | $614,900 | |
| Listed by Century 21 Legacy | |||
| Aug 26, 2022 | No longer available | - | |
| No longer available | |||
| Jul 7, 2022 | In contract | - | |
| In contract | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017