724 NW 7TH AVENUE
About This Property
Rent: $2,200/month
Annual Rent Cost: $26,400
Total Rent Over 4 Years: $105,600
Scenario 2: Purchasing 724 NW 7th Ave
Total Housing Cost Over 4 Years: $116,640
Net Equity Gained After 4 Years: $66,900
Net Cost of Buying (Before Rental Income): $49,740
Rental Income from Extra Bedrooms
Estimated Rent per Bedroom: $800/month
Total Rent for 2 Bedrooms: $1,600/month
Annual Rental Income: $1,600 × 12 = $19,200
Total Rental Income Over 4 Years: $19,200 × 4 = $76,800
Net Cost of Buying After Rental Income
Net Cost Before Rental Income: $49,740
Less Rental Income (2 Bedrooms): $76,800
Final Adjusted Net Cost: -$27,060 (Profit!)
Updated Savings Comparison: Renting vs. Buying
Total Rent Paid Over 4 Years: $105,600
Final Adjusted Net Cost of Buying (After Rental Income): -$27,060 (Profit!)
Potential Savings vs. Renting: $132,660
Final Takeaway
With this setup, not only does buying save over $132K vs. renting, but it actually turns into a profitable investment, generating $27,060 in positive cash flow over four years.
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Cap Rate Calculator
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
Property Highlights
Building Info
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Price/ft²
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About Fifth Avenue
Similar Homes for Sale
Currently no similar homes aroundNearby Rentals
$2,200 /mo
- 4 Beds
- 3 Baths
- 1,853 ft²
$2,000 /mo
- 3 Beds
- 2 Baths
- 1,340 ft²
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017