7571 RIDGE ROAD
About This Property
Additional highlights include a dedicated laundry room with cabinetry for extra storage and multiple hallway closets for added convenience. The garage has been converted to include the primary suite, but the front section remains accessible from the exterior-perfect for storing bikes, lawn equipment, and more. The backyard is partially fenced and offers a versatile outdoor space that can be enjoyed open-air or screened in. There's also a bonus enclosed storage area that houses the updated electrical panel. Major updates include a newer roof, electrical panel, windows, flooring, kitchen, both bathrooms, a tankless water heater, and fresh interior and exterior paint. Best of all, this home is not in a flood zone and remained high and dry through recent storms with no damage or water intrusion. Also considered un-incorporated so as of listing, short term rentals are allowed!! It really has everything! Some photos have been virtually staged.
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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