9387 Cedar Drive
About This Property
The red Jeep Wrangler is included in the sale. You will be ready for the winter's snow and OFF ROADING ADVENTURES. Looking for the best location for a mountain home? Then this is it. Forest Falls is just a twenty-five-minute drive from downtown Redlands. It is a charming mile high community of towering pines, breathtaking mountain views and waterfalls. Get above the smog and heat this summer and live the mountain lifestyle. This home was built in in 2012 on the site of an old cabin that was built in the 1920s. It is airy and contemporary with gorgeous views from the house. The single level floorplan features an open concept kitchen, granite counter tops, tall ceilings, lots of windows and a real wood stove. There is an oversized deck for entertaining and a nicely landscaped yard. Unusual for this area is the large garage. There is a detached two car garage with a wonderful 400 square foot studio above it. We are calling this the third bedroom. This flex space can also be your artist's loft, sewing and craft room. Maybe add a bath for multigenerational living or Airbnb potential? It is in the excellent Redlands school district. This property will qualify for a low down payment assistance program with USDA or CalHFA.Perfect for a first-time buyer.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 29, 2019 | Sold | ||
| Sold | |||
| May 8, 2019 | Listed by RITA SHAW BROKER & ASSOCIATES | $349,500 | |
| Listed by RITA SHAW BROKER & ASSOCIATES | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017