616 HIGHLAND AVE
About This Property
The house comes with a newer (five year old) boiler and water heater. The garage roof is four years old and the double wide door is also newer. All of the windows have been replaced with energy efficient units as well as the front, rear, and porch doors. Beautiful hardwood floors throughout with tile in the bathroom and kitchen. This house was completely rewired with a new panel supplying 200 amp for the house and 100 amp for the garage. Conveniently located close to several food markets, convenience stores, retail shopping, and public transportation. A ten minute ride puts you on the Betsy Ross bridge or Tacony Palmyra bridge. Rt. 295 is only fifteen minutes away as is the Cherry Hill and Moorestown Malls. The sellers are including a one year Home Warranty for your peace of mind. This is a move-in, ready to enjoy, home with the quality of workmanship that only a home of this age can give. It is a must see. At the new price it will move fast.
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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 |
|---|---|---|---|
| Oct 7, 2022 | Sold | ||
| Sold | |||
| Jul 15, 2022 | Listed by BHHS Fox & Roach-Moorestown | $359,900 | |
| Listed by BHHS Fox & Roach-Moorestown | |||
| Nov 4, 2016 | Sold | ||
| Sold | |||
| Mar 11, 2016 | Listed by BHHS Fox & Roach-Mt Laurel | $160,000 | |
| Listed by BHHS Fox & Roach-Mt Laurel | |||
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New electric system installed 2-2016. New Washer/dryer hook ups in basement. Original hardwood floors, center hall foyer, fireplace, 2 car detached garage, cedar closet, basement. Original panel doors with glass door knobs. It has oil heat but there is a gas line at the street that could be connected and converted to gas easily. Walking distance to the Riverline and short driving distance to Tacony Palmyra Bridge. Being sold "as is" Buyer responsible for any repairs required by township or mortgage company.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017