918 MOTTER AVENUE
About This Property
Upstairs off its private side porch is Unit B, a charming one-level home with a split bedroom design.
The primary bedroom is to your right with lots of cubbies and closet space. The 2nd bedroom is down the hall and shares an updated classic bathroom. The big room can be a celebration-sized dining room, office, or great room. A third room currently a living room would also make a nice study or music room. A modern kitchen gets a lot of light and has everything you need including a stack washer and dryer. Assumable by anyone VA loan with a jaw-dropping 2.25% interest rate or perfect for an FHA or Conventional loan with a built-in mortgage buster of $1350 a month from the current rent payment. Turn key, beautifully updated duplex with a wonderful tenant in place in Unit B on a month-to-month lease who does the yard work and would love to stay! These tenants have been utilizing the 2 car front driveway. For peace of mind: roof and gutters in 2018, Heat pump furnace A/C, and compressors for each unit in 2017. The basement was waterproofed in 2017, the Electric heavy up, and the attic insulation in 2019. List of even more improvements in the online disclosures. Grab your Realtor and see this home now!
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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.
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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About Frederick
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017