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663 Spruce Dr
About This Property
Surrounded by beautiful, mature pine trees, the level terrain provides an ideal building site with the lot corners already staked for added convenience. Once your home is built, enjoy beautiful mountain views to the northwest while taking in the peaceful setting.
The property features year-round maintained and plowed roads, a community water system, and electricity at the lot line, making it easier to bring your vision to life. Located just minutes from lake access for boating, fishing, paddleboarding, and endless outdoor recreation, you'll also appreciate being only 15 minutes from Leadville and 25 minutes from Buena Vista, providing easy access to dining, shopping, skiing, hiking, and everything Colorado's mountain lifestyle has to offer.
With three separately platted lots included in one purchase, this is an incredible opportunity to maximize value while enjoying the privacy, convenience, and natural beauty of the Colorado mountains. *There is a discrepancy with the Lake County Assessor taxes stated at $7,329. The actual tax amount is $5,500.
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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