8203 LAKE ECHO RIDGE Drive
About This Property
Escape to tranquility on this stunning lakefront property! Nestled on two lots, this charming home offers the perfect blend of privacy and space. The cozy main house boasts plush carpeting throughout and a large kitchen. Unwind by the beautiful stone fireplace or soak up the sun in the large Florida room, all while enjoying peaceful views of the lake. The long driveway provides ample parking, while the two sheds offer additional storage. Huge trees draped in Spanish moss create a magical ambiance in the backyard, perfect for relaxing evenings enjoying the beauty of nature. Peace and quiet await! The secluded location offers a true escape from the hustle and bustle, while the brand new METAL roof (installed 2024) ensures peace of mind for years to come. A bonus house on the property provides endless possibilities -a mother-in-law suite, guest quarters, or even an income-generating Airbnb rental. Don't miss this steal in up-and-coming MELROSE!
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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
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 8, 2024 | Sold | ||
| Sold | |||
| Aug 1, 2024 | In contract | - | |
| In contract | |||
| Jun 29, 2024 | Price Increased |
$330,000
↑ $100K
(43.5%) | |
| Price Increased | |||
| Jun 29, 2024 | Price Decreased |
$230,000
↓ $100K
(30.3%) | |
| Price Decreased | |||
| Jun 28, 2024 | Price Decreased |
$330,000
↓ $9K
(2.7%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017