11466 Shippigan Way
About This Property
The entry opens to a foyer with LVT, light oak flooring that runs throughout the main level. A formal living room sits to one side, anchored by a painted-brick fireplace and plantation shutters across the front-facing windows. Past the staircase, the dining area opens to a separate family room with sliders to the back courtyard. The kitchen runs along the back wall, featuring soft gray cabinetry, resurfaced counters, a window over the sink looking out to the covered patio, and stainless appliances, including a gas range, microwave, and dishwasher. The laundry tucks into the kitchen behind louvered bifold doors. A half bath sits off the entry.
Upstairs, two secondary bedrooms share a full bath, an updated vanity and counters and a tub-shower combination. The primary suite is the upstairs highlight. It's oversized, with treetop views from two upper windows, a second fireplace anchoring the room, a walk-in closet, and a three-quarter ensuite bathroom featuring a frameless glass shower and an updated vanity and counters.
The private courtyard runs the length of the back. A newly built slatted patio cover shades the Spanish-tile patio, with a block-wall perimeter that keeps the space enclosed. Room for a full outdoor seating arrangement and BBQ/Entertainment area.
Updates throughout: LVT flooring across both levels, dual-pane windows, upgraded lighting, resurfaced kitchen and bathroom counters, central air and heat, and a two-car garage with private access through the courtyard.
Cypress Village is the resort-style community complete with PUD's and patio homes that locals know for its amenity package: three community pools, three clubhouses, a full spa, a kiddy pool, tennis courts, pickleball, and lush greenbelts with meandering pathways. HOA is $399/month.
In close proximity to Patton Elementary, Bell Intermediate, and Pacifica High, all currently rated 9 or 10 on GreatSchools. Close to LA Fitness, local parks, Costco, Trader Joe's, and Cypress retail. Easy access to the 605, 405, and 91. Disneyland and Knott's are a short drive. The world-famous beaches of Orange County are a few miles south.
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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 |
|---|---|---|---|
| Jul 16, 2026 | Sold | ||
| Sold | |||
| Jun 18, 2026 | In contract | - | |
| In contract | |||
| Jun 8, 2026 | Listed by First Team Real Estate | $874,900 | |
| Listed by First Team Real Estate | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017