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703 SPINNAKER STREET
About This Property
Pull up and be instantly impressed by the meticulously maintained lawn, lush, green, and manicured to perfection, setting the tone for the exceptional care that defines this entire property.
Step inside to a welcoming foyer that opens into a thoughtfully designed main level with a natural, easy flow. The kitchen offers granite countertops, generous cabinetry, ample workspace, and a layout that connects beautifully to the dining area and kitchen nook. The nook is filled with natural light and offers peaceful views of the rear yard.
Just beyond, the living room provides a warm and comfortable setting, highlighted by a brick fireplace and French doors that lead to the enclosed rear porch. A dedicated office on the main level offers flexibility for working from home, hobbies, or a quiet retreat.
Upstairs, you'll find three well-sized bedrooms, including an owner suite with its own full bathroom and jetted tub. A second full bathroom serves the additional bedrooms.
For the hobbyist, contractor, or anyone who craves serious storage and workspace, this property delivers in a big way. A massive 16x24 pole barn stands ready for tools, toys, trailers, or equipment.
This home is also equipped with a whole-home Generac generator, providing peace of mind when Delaware storms roll through. Additional features include a full walk-out basement and a two-car garage, offering even more space for parking and storage.
Located just minutes from US Route 301 and Route 1, commuting north to Wilmington or south toward Dover is a breeze. A short drive brings you to the charming waterfront of Chesapeake City, and Middletown's growing dining and shopping scene offers plenty close to home.
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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.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017