9394 Redwood Drive
About This Property
Move right in and start enjoying your new lakefront cottage! $250 in local merchant gift cards are being given to welcome the new owner. Waterfront beauty on 755 acre all-sports Hess Lake is much larger than it looks from the outside! The main floor has a new kitchen with lots of cabinets and eating area, two bedrooms and living room that leads to the spacious deck with gorgeous views. The lower walk-out level has a family room with cozy fireplace and a new full bath. Go thru the slider, and your living area is expanded to the outdoor patio and grill area, and panoramic expanse of the lake and dock. Lots of updates and fresh paint. Want turnkey? We can do that too! Great house, great value.
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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 |
|---|---|---|---|
| May 24, 2023 | Sold | ||
| Sold | |||
| Mar 21, 2023 | Listed by Five Star Real Estate (Main) | $334,900 | |
| Listed by Five Star Real Estate (Main) | |||
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WATERFRONT LIVING AT ITS BEST!! 755 acre all sports Hess Lake with 90 feet of water frontage!! Welcome home to this 2 bedroom and 1 bath walkout ranch style cottage! This cottage could also be a year round residence for those who want to enjoy the lake and its views 365 days a year. Or could make a great rental. The cottage has great bedrooms and a large bath. The walk out lower level is set up for entertaining and has access a nice walkout patio. The cottage's other features include: 2 decks for relaxing, open concept kitchen, nice seawall, almost half acre lot with fenced in back yard, plenty of room for garage or storage building, all kitchen appliances included, large storage shed, firepit in backyard. New furnace in 2022. The home also is close to downtown Newaygo. Don't pass this opportunity by! Also a nice dock comes with the property! Buyer to verify all information. Basement finished sq ft estimated!
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| Sep 2, 2016 | Sold | ||
| Sold | |||
| Apr 14, 2015 | Listed by Great Lakes Signature Prop | $171,900 | |
| Listed by Great Lakes Signature Prop | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017