8302 124th TERRACE
About This Property
-No Flood Zone-
Don't miss your chance to own this incredible property! Step into this stunning 3-bedroom, 2-bathroom home, perfectly situated on a spacious corner lot with room for RV or boat parking. Built in 1985, this single-family home combines classic charm with modern upgrades for ultimate comfort and luxury.
Inside, you'll find a tasteful mix of carpet, ceramic tile, and wood flooring that flows through thoughtfully designed spaces, creating a welcoming atmosphere. The centerpiece fireplace offers a cozy gathering spot, while central air and electric heating ensure comfort year-round.
The beautifully equipped kitchen is a cook's delight, featuring modern appliances-including a dishwasher, electric water heater, microwave, range, and refrigerator-paired with elegant stone countertops, creating a space as functional as it is beautiful.
Each bedroom offers a peaceful retreat, with the primary suite boasting a built-in closet for added convenience. High, vaulted ceilings and walk-in closets enhance the home's spacious, open feel. Designed for safety, the home features a hurricane-rated garage door with newly replaced springs, and the electrical system is fortified with updated surge protection on the main panel and outdoor A/C unit. Additionally, an external generator connection provides easy power continuity during outages.
The home shines bright with 100% LED lighting, including a pool light that enhances your private, chlorine-free, electric heated pool, complete with an upgraded three-phase pump for lasting enjoyment.
The attention to detail extends throughout, with new carpet in one bedroom and matching tiles available for a cohesive aesthetic. Outdoor spaces include a covered deck, patio, porch, and screened area, perfect for alfresco dining and relaxation. The landscaped yard, dotted with trees and a manicured garden, enhances this tranquil setting. A spacious 2-car garage with added boat parking completes this practical yet luxurious home.
This isn't just a home; it's a sanctuary of elegance, privacy, and sophistication. From the private pool to the cozy fireplace, every feature enhances a lifestyle you'll love.
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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 |
|---|---|---|---|
| Dec 11, 2024 | Sold | ||
| Sold | |||
| Nov 19, 2024 | In contract | - | |
| In contract | |||
| Nov 3, 2024 | Relisted | $495,000 | |
| Relisted | |||
| Jul 27, 2024 | In contract | - | |
| In contract | |||
| Jul 26, 2024 | Price Decreased |
$495,000
↓ $4K
(0.8%) | |
| Price Decreased | |||
Property Highlights
Building Info
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About Somerset Lakes
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017