6299 Strahan Road
About This Property
A true diamond in the rough. Corner lot right under 2 acres with irrigation rights and a domestic well. TX gas metered but not turned on. EP Electric is connected. Plenty of pecan trees, pomegranate, quince trees, lush grass & shade trees. City water/sewer services are at the property line.
The three structures are a true Fixer upper with lots of potential. Main has 2275 Sq.Ft. Kitchen has already been gutted. Detached garages have a pit and according to CAD measure about 1464 sqft. Large cement pad and separate shed also on property. Condition of refrigerated unit on main house is unknown. House has never been lived in by current owner.
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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 |
|---|---|---|---|
| Sep 30, 2022 | Sold | ||
| Sold | |||
| Aug 27, 2022 | Listed by Sandy Messer And Associates | $369,800 | |
| Listed by Sandy Messer And Associates | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017