8526 GEORGETOWN PIKE
About This Property
The anchor of the two-acre, conservation trust preserved property -- one of four structures -- is a vernacular-style home built c. 1730-1780 that retains its 18th century charm in its log and chinking walls, old growth flooring and timber ceiling beams, while providing modern cooking and bathing. In addition to the main home, there is a 1BR/1BA dependency, a large studio attached to the original smoke house, and a two-car garage.
The bucolic setting nestled within parkland also features a pool and koi-pond. The property was most recently the home of the late Thomas Lovejoy who was a world-renowned ecologist, environmental conservationist, and policy maker. Dr. Lovejoy hosted a plethora of politicians, heads of state, academics, and celebrities during the 45 years he called Drover's Rest his home.
Originally, the property was a resting place, hence the name, for weary travelers alone "Old Georgetown Pike", which was a trading route that predated European settlement in North America and remained so into the early 20th century.
SHOWN BY APPOINTMENT.
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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%.
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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.
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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