6550 Lake Effect Drive
About This Property
Currently operating as a successful short term rental with a valid rental certificate that can be passed to the next owner, a buyer could use this as a business opportunity, their own personal vacation home, or a year-round residence! The exterior architecture sets the stage with white cedar wood siding, 30 feet of glass doors, moody board and batten, and a metal roof.
The open-concept kitchen, dining, and living area is ideal for gathering, featuring inset custom cabinetry, open shelving, GE stainless steel appliances, a gas range, a Scandinavian-style wood-burning stove, and expansive Pella windows that fill the space with natural light and bring the outdoors in. The functional floor plan includes 3 bedrooms, 2 full baths, and a loft area, with a private primary suite offering direct access to the screened-in porch, a large tiled shower, and peaceful woodland views right from bed. Two additional bedrooms are connected by a Jack-and-Jill bath, providing comfortable accommodations for family and guests.
Outside, enjoy beautifully landscaped grounds, a peaceful creek, wooded acreage to explore, a firepit area, and plenty of room to unwind. Just down the road you'll find Laketown Beach, Saugatuck Dunes State Park, and all that Saugatuck, Douglas, and Holland have to offer.
And perhaps the best part? Yes, you can have it all. The home is being sold furnished, making it ready to enjoy from day one!
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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