About This Property
Marsh Island is a new Schell Brothers community with direct access to Love Creek and the Rehoboth Bay (formally Marsh Island Golf Course). Enjoy waterfront access from existing community dock with four boat slips that can be used for kayaking/fishing/ crabbing to Love Creek and the Rehoboth Bay and the variety of community amenities including clubhouse with fitness center, outdoor pools, outdoor covered porch overlooking the pool and water views, outdoor covered lounge with bar, stone fireplace & grill, fenced in playground and walking paths. The Lilac plan is a three-story home with a second-floor owners suite starting at 3,210 heated square feet. Includes up to 6 bedrooms and 4.5 baths, with first- floor recreation room, a bedroom and a full bathroom. The second-floor open design includes a spacious kitchen open to the dining area and great room. You will also find the main owner's suite and a powder room. The second floor also offers a flex room. The third floor opens up to the lower level and includes another owner's suite, 3 bedrooms, a full bathroom, an a loft area. Options are available to personalize layout with additional bedrooms/baths, and outdoor living spaces including a screened porch and beautiful courtyard.
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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 1, 2024 | Sold | ||
| Sold | |||
| Nov 26, 2023 | Price Increased |
$649,900
↑ $95K
(17.1%) | |
| Price Increased | |||
| Nov 26, 2023 | In contract | - | |
| In contract | |||
| Nov 16, 2023 | Listed by Coldwell Banker Realty | $554,900 | |
| Listed by Coldwell Banker Realty | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017