11868 Malecon Place
About This Property
The Rhode Island is a single-story new construction home offering 3 bedrooms plus a flex room, 2 baths, and 1,723 sq. ft. of open living space. The open floor plan features a kitchen with island, granite countertops, tile backsplash, and stainless steel appliances, along with wood cabinetry with crown molding and hardware. The privately located primary suite includes a walk-in closet and bath with large shower and double vanity. Ceramic tile flooring is featured in main living areas, kitchen, and baths, with carpet in the bedrooms. Additional highlights include LED lighting, double-pane windows with faux wood blinds, central refrigerated air, ceiling fans in the living room and primary bedroom, an 8-foot entry door, and a farmhouse-style elevation with cultural stone. Photos are for demonstration purposes only.
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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 |
|---|---|---|---|
| Sep 26, 2026 | Sold | ||
| Sold | |||
| May 29, 2026 | In contract | - | |
| In contract | |||
| Jan 19, 2026 | Listed by Better Homes and Gardens Real Estate Elevate | $294,950 | |
| Listed by Better Homes and Gardens Real Estate Elevate | |||
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About El Paso
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017