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763 Pat Drive
About This Property
Step inside through a stunning main entry door with stained glass detailing into a gracious walk-in foyer complete with a coat closet and window, immediately setting the tone for a home that feels both welcoming and thoughtfully designed. The sun-drenched living room features rich hardwood flooring, recessed lighting, and a dramatic floor-to-ceiling bay window that fills the space with natural light.
The heart of this home is an open kitchen and dining room combination that truly delights. Enjoy tile flooring throughout, gorgeous granite countertops, an island with built-in sink, classic wood cabinetry, and stainless steel appliances. A built-in wine rack, a skylight in the dining room, and exposed wooden ceiling beams lend the space a timeless, character-rich warmth. French doors from the kitchen open directly to the deck, making indoor-outdoor entertaining effortless.
The cozy den with its classic wood-burning fireplace with brick panel surround, front-facing bay window, and another window facing the back makes it the perfect retreat. A convenient half-bath with window is located in the den as well.
The backyard is something special. Step outside to a sprawling, park-like backyard complete with a large multi-section deck with built-in bench seating and a sitting area, ideal for entertaining, relaxing, and enjoying the outdoors. An electric awning adds shade and style. The heated semi-inground swimming pool features a new liner and new pump, and carries a Certificate of Occupancy. The backyard is truly a private retreat.
Bonus space: A separate structure in the backyard serves beautifully as a home office, studio, or creative space and carries a Certificate of Compliance (issued November 1993). Additional highlights include 200-amp electrical service and a generator is included, a hot water heater approximately one year old, central air conditioning, a beautiful 5-year-old driveway with generous parking, and a large front lawn.
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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