637 Ontario Ridge
About This Property
Set on an oversized 2.46-acre lot near the end of a cul-de-sac, the property enjoys relative privacy enhanced by wooded surroundings that naturally buffer it from neighboring homes. The home is designed for easy living with one-level living, minimal steps into the home, an easy-access driveway, and a generous parking and turnaround area. An attached two-car garage plus a separate golf cart garage offer excellent flexibility for vehicles, recreational gear, and storage.
Inside, the home features radiant heated Oak hardwood floors and beautiful tongue-and-groove ceilings, creating warmth and timeless mountain character. The spacious open-concept kitchen, living, and dining area is ideal for entertaining, anchored by over 20-foot vaulted ceilings in the living room and expansive windows that bring in natural light and showcase the scenery. The living room, dining area, and primary bedroom all enjoy sweeping mountain views.
The large kitchen is both functional and inviting, featuring custom cabinetry, granite countertops, a large island overlooking the view, and abundant storage. Outdoor living is just as impressive, with over 1,000 sq ft of Trex deck designed to take full advantage of the mountain setting. This space includes a covered area, a grilling area with propane hookup, and a hot tub area with a retractable awning, making it perfect for relaxing or hosting guests year-round.
The primary suite is a private retreat with vaulted tongue-and-groove ceilings, direct deck access, and an en-suite bath featuring a jetted tub, tiled shower, and leathered granite countertops. It also offers a large walk-in closet with attic storage access and the convenience of en-suite laundry. Secondary guest rooms are generously sized with vaulted ceilings.
Storage is abundant throughout the property, with generous closet space, attic space, an oversized 637 sq ft garage, and a 20+ foot crawlspace. Additional upgrades include a fully encapsulated crawlspace with dehumidifier, whole-house heated hardwood floors, instant hot water heater, 50-amp electrical outlet outside the garage, security system, Wi-Fi thermostat, and a water leak detector at the well. The hot tub, golf cart, grill, and appliances all convey with the home.
Outside, the landscaped yard features a beautiful mix of foliage, natural rock outcroppings, and mountain landscape elements, along with steps and a stone walkpath behind the home. No rentals are allowed in Twin Rivers, helping preserve the quiet residential character of the community. From this central location, enjoy easy access to golf, tennis, pickleball, hiking, biking, fishing, skiing, equestrian facilities, shops, restaurants, and more.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017