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7204 Wardman DR
About This Property
The property needs foundation repairs, with a current quote of approximately $17,000, along with cosmetic updates including interior paint, flooring, carpet, fixtures, and general updating throughout. The heavy lifting is straightforward, making this a great opportunity for someone ready to renovate, reposition, and bring the home back to life.
The list price reflects the current condition and was intentionally positioned to leave room for the next owner to make the necessary improvements while maintaining potential upside. Whether you're looking for your next flip, investment property, or renovation project, the numbers and opportunity are here.
Bring your contractor, your vision, and your creativity. This one is priced to move.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 22, 2026 | Listed by Douglas Elliman Real Estate | $225,000 | |
| Listed by Douglas Elliman Real Estate | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017