948 Elk Road
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 20, 2024 | Sold | ||
| Sold | |||
| Mar 10, 2024 | Listed by KELLER WILLIAMS BIG BEAR | $1,095,000 | |
| Listed by KELLER WILLIAMS BIG BEAR | |||
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Your search is over. Nestled in the picturesque surroundings near Bear Mountain Ski Resort, Zoo, shopping, hiking trails, and golf course. Home was completed in 2019. Featuring 3 bedrooms 2 baths with an open concept floor plan. Boasts a spacious living area with remarkable cedar vaulted ceilings, Knotty Alder doors, Hardwood hickory floors, and free standing wood stove. Open concept layout seamlessly flows into the kitchen equipped with black stainless steel appliances, hickory cabinets, Granite countertops, and walk in pantry. In addition, it also features a game room with direct access to the spacious rear deck perfect for outdoor entertaining, with a BBQ, hot tub, wonderful water feature, and shed with power. Located in a sought after area, this cabin offers endless opportunities.
It has been a very successful short term rental with amazing 5 star ratings on Airbnb. Since 2022, it has accumulated a gross of more than $193,000, averaging over $7,000 per month.
With its combination of upscale features, breathtaking surroundings, and unbeatable entertainment options, this home near Bear Mountain is the ultimate destination for your next mountain getaway.
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| Apr 14, 2022 | Sold | ||
| Sold | |||
| Feb 24, 2022 | Listed by Re/Max Big Bear | $999,000 | |
| Listed by Re/Max Big Bear | |||
| Dec 18, 2020 | Sold | ||
| Sold | |||
Property Highlights
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About Big Bear Lake
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$6,500 /mo
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017