7478 NOELL RD
About This Property
Riverledge is one of the critically acclaimed FlatPak Houses, first off the boards after the architect's own prototype FlatPak House was assembled in 2003. Commissioned in 2005 and working collaboratively with the owners, they designed a simple modernist dwelling, stripped to the fundamentals of beauty, placement and functionality. The architecture is simultaneously practical and poetic, integrated with its site, a stunning 32 forested acres and 1,600 feet of river frontage. An idyllic country retreat a stone's throw from DC.
The long simple rectangular form of the house evokes the mid-century modern work of the
heralded Case Study Houses. It's comprised of two faces; along the ledge top, a zen calm, highly ordered modernist facade of coated aluminum panels and glass. To the ravine side, a glass wall that suspends you amidst the tree canopy with delightful views to the river below. An expansive Port Orfort Meranti deck cantilevers you into the plummeting ravine. A truly unique architectural experience of expansive nature subtly framed by architecture.
The modest footprint, strung along the ravine ledge, lives large, providing a shared living space and a loft-type quiet space, bracketed by separate 'bedroom pods' for owner and guests. The pods are attached by glass bridges, offering carefully scaled spaces for both togetherness and secluded privacy.
Inside, warm, beautifully day-llit spaces welcome you for living among artwork and nature. A minimalist design aesthetic sets the tone with a limited palette of carefully selected materials chosen for order and calm. Wide face long leaf Maple floorboards ground the space amidst expansive glass, gallery white walls and select Mahogany doors. A super minimal Boffi kitchen of Gaggenau, Miele and Liebherr appliances sets the stage for cooking and enjoying meals amongst the tree tops. A Jotul wood stove features an extra large glass front and sides. Triple glazed glass and super insulated walls, floors and roof keep you in comfort during both summer heat and winter cold. The master bath spoils with an extra deep Wetstyle soaking tub, sink and shower. Guests will delight in the Ultra Bain dry air jet spa bath. A keyed entrance to the master suite offers the opportunity to rent or loan the house to a second party. What more could you need?
The FlatPak Houses were rigorously engineered, detailed and assembled to survive the worst that nature could throw at them and to endure for generations with a minimum of maintenance. Riverledge has gracefully weathered a mid-Atlantic derecho that damaged structures in the greater area, an earthquake that jolted structures as far as DC, and two 100-year floods. Riverledge has gracefully survived it all.
The land was previously part of a common agreement among the owners of four contiguous plats that agreed to prohibit above-ground eyesores such as power lines and phone wires. Riverledge has extensive trenches to deliver power and copper line phone service and a satellite 200 meters from the house to deliver wifi - with no wires in sight.
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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