1122 RAINBOW CIRCLE
About This Property
Step inside to discover an inviting floor plan featuring spacious living areas, a bright and functional kitchen, and a finished basement that offers endless possibilities for a recreation room, home office, gym, or additional entertaining space. The private backyard is ideal for relaxing, hosting family and friends, or simply enjoying peaceful evenings outdoors.
Recent upgrades, including a newer roof (2025) and newer siding, enhance both the home's curb appeal and long-term value, offering added peace of mind for years to come. A two-car garage and ample storage complete this exceptional property.
Located in the sought-after Palatine Lake community, residents enjoy access to outstanding neighborhood amenities, including a community pool, tennis courts, and the tranquil setting that makes this neighborhood so desirable. Conveniently situated near schools, parks, shopping, and major commuting routes, this home offers the perfect combination of comfort, convenience, and community.
Don't miss this incredible opportunity to make 1122 Rainbow Circle your next home!
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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 |
|---|---|---|---|
| Oct 15, 2026 | Price Decreased |
$449,900
↓ $25K
(5.2%) | |
| Price Decreased | |||
| Sep 23, 2026 | Price Decreased |
$474,600
↓ $14K
(2.9%) | |
| Price Decreased | |||
| Sep 3, 2026 | Price Decreased |
$489,000
↓ $10K
(2%) | |
| Price Decreased | |||
| Jul 30, 2026 | Listed by Keller Williams Hometown | $499,000 | |
| Listed by Keller Williams Hometown | |||
| May 16, 2016 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017