About This Property
This location was established in July 2015. Extensive renovations to the plaza where the studio were located were started early 2016 and completed in July of 2017. This renovation impacted the studio profit numbers substantially during this time. The plaza re-opened in August of 2016 and is stunning! This gives the new owner an incredible opportunity to capitalize on the new plaza with only upside potential and none of the income losses from the plaza renovation.
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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 |
|---|---|---|---|
| Jun 18, 2018 | Sold | ||
| Sold | |||
| Dec 5, 2017 | Listed by Realty Today Inc. | $35,000 | |
| Listed by Realty Today Inc. | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017