6870 Boone Road
About This Property
The ranch features native short grass prairie grasses including blue Grama, Buffalo grass and Western Wheat grass. The terrain is mostly level with a mild roll. To the west are towering views of America's mountain, Pikes Peak. Pastures are fenced and setup for horses or cattle.
The house on Boones Road Ranch is the perfect well maintained turn of the century farm house style home with 2 bedrooms and one bathroom, an office, living room and country kitchen. There's a 2 car attached garage. The property has corrals, a loafing shed and old barn. Additionally there are a couple of storage buildings, one of which could be turned back into a chicken house.
The ranch would make the perfect small ranch, ranch headquarters or get away property. Currently it's being used as the headquarters for a family cattle ranch.
One half of the minerals are included (to be verified) and will transfer. The property has two well, one a domestic and one livestock well with a windmill.
The ranch is located 42 miles east of Colorado Springs. The area is rural with a mixture of rural residential and working ranches. Colorado Springs offers all the amenities of a big city within 45 minutes. The climate is mild.
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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