7306 JERVIS STREET
About This Property
A quick step outside through the dining room's sliding glass doors or through the kitchen door brings you onto the expansive 40'x12' outdoor deck. It's a space perfect for grilling, dining, and relaxing, and overlooks the large fully fenced backyard, mature treeline, dedicated firepit area, and generously sized 24'6"x22'8" two car garage (with storage above).
The home's main level has hardwood floors throughout the three bedrooms, each with generous closet space. On this level, you'll also find a recently remodeled full bath, cheerfully updated with stylish subway wall tile and graphic floor tile, along with a generously sized tub/shower, spacious closet, custom vanity, and new hardware and lighting.
Just off the kitchen and stepping down to the home's lower level you'll find a vast lower level, consisting of a large finished space perfect for guests, a home office, play space, movie nights, and more. The lower level also features a large storage and laundry area with a full-size washer and dryer, the home's second full bathroom, a dedicated utility space, and convenient walk-out access to the grand 37.5' x 12.5' lower level patio located under the deck.
The home features numerous recent upgrades including the installation of a whole house water softener & filtration system installed (lifetime warranty), a new 30 year roof (installed in 2018), newly refinished wood floors, updated lighting, molding, and paint, new wood fencing, and more.
The home is located inside the beltway and is close to I-395 and I-495, to public transportation (including a nearby bus stop with service to the Pentagon), and is less than five miles to Franconia-Springfield Metro station. It is also a short distance to shopping and dining, a plethora of parks, The St. James Sports complex, the Audrey Moore RECenter, and more. Homeowners have the option to join the nearby North Springfield Swim Club, which provides access to an outdoor pool, an enclosed baby pool, a playground, two tennis courts, and two beach volleyball courts.
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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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About North Springfield
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017