About This Property
The seller has completed the expensive (paid in full) process of obtaining 6 Transferable Development Right Credits through the Environmental Restoration and Maintenance program and providing a Flow-Way Easement. This property is an excellent opportunity to purchase, sell the TDR credits to pay for the purchase, and then hold the land for hunting, recreational use, agriculture, or investment.
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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 |
|---|---|---|---|
| Jan 31, 2025 | Sold | ||
| Sold | |||
| Jan 10, 2025 | In contract | - | |
| In contract | |||
| Nov 28, 2024 | Price Decreased |
$19,000
↓ $26K
(57.8%) | |
| Price Decreased | |||
| Jul 16, 2024 | Listed by Flatfee.com | $45,000 | |
| Listed by Flatfee.com | |||
Property Highlights
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Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|
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Last Updated: 2 years ago
Data Source: SWFLMLS, MLS# 224059352
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017