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616 WOLFE STREET
About This Property
As you approach the home, you'll be greeted by a large front porch, perfect for enjoying the city vibe. Parking is a rare find in downtown, but this property offers off-street parking, providing convenience and peace of mind. The spacious backyard is level and features a deck, firepit, and a large storage shed, offering ample space for outdoor activities and storage needs.
Inside, the main level impresses with heart pine flooring, tall ceilings and exposed beams in the family room including wonderful built-ins. The separate dining room leads to an eat in kitchen and beautifully renovated main level full bath. A side entrance "mud room" with stacked laundry enhances practicality.
Moving upstairs, the hardwoods continue, leading to another full bath with a vintage tub-shower combo. There are three bedrooms, and an additional bonus walk-in closet room offers flexibility and storage convenience. A walk-up attic offers even more storage options.
The home is equipped with central air conditioning and central heat, ensuring year-round comfort. The property's commercial highway zoning opens up numerous possibilities beyond a residence. Whether you're looking to explore commercial ventures or considering a duplex arrangement, the two separate electric meters offer flexibility for your vision.
Don't miss this opportunity to establish yourself in the heart of downtown Fredericksburg. With its attractive features and versatile zoning, this property won't be available for long. All within blocks to Downtown's restaurants, shops, parks and the VRE.
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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.
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About Fredericksburg
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017