655 Forest Street
About This Property
The second floor features a spacious and beautiful Master Suite with its own bathroom, sitting area and private porch. A hallway (with access to a second porch) runs from the Master Suite to a lovely second guest bedroom and bunk room (connected to a Jack-and-Jill bathroom). Moving up, the third level's enclosed tower has two observation decks offering stunning panoramic views of Seaside from sunup to sunset; and bountiful star glazing at night. Numerous built-in bookshelves here, and in other parts of the home, will display your favorite beach reads or those treasured first editions.
Frog Pad (Guest House) is the perfect leap from the Main House to one of the most darling guest cottages in Seaside! Full kitchen, dining nook, living room, and half bath are located on the first floor. Upstairs is a beautiful Master Suite with a lovely and spacious sitting area (providing the perfect place for a cat nap or to curl up with a good book). Completing the Master Suite is a bathroom, plenty of closet space and a laundry amenity to make your guests most comfortable. Frog Pad can make a great rental cottage on its own; or combined with the Main House, it completes this beautiful Seaside family compound.
Outside there are several lovely, shaded seating areas for winding down at the end of the day; and plenty of outside storage for all your beach gear.
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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