121 Iris Dr
About This Property
The kitchen features granite countertops, new appliances, updated fixtures, and a custom pantry. The open-concept main level connects kitchen, living, and outdoor spaces for practical, versatile living. Both bathrooms have been tastefully updated with fresh finishes, flooring, new fixtures, and thoughtful details. New carpet, paint, lighting, and hardware throughout the home tie it all together with a clean, cohesive feel.
The finished walkout basement adds flexible space for an additional living area, home office, or guest suite, complete with its own pellet stove for cozy winter nights. A second pellet stove warms the main level, offering both charm and efficient comfort. There's also plenty of room for storage or a workshop.
Outside, the .685-acre lot is both usable and inviting with a widened gravel driveway, landscaped yard, fire pit area, and a 12x16 shed for gear or storage. A wood deck and lower concrete patio expand your outdoor living options, while recent fire mitigation work brings peace of mind. You will also find a new well pump and whole-house water filtration system.
Located in the sought-after Friendship Ranch community, just minutes from Hwy 285, this home offers a balanced blend of quality, comfort, and mountain ease. It's ready for its next owner.
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Cap Rate Calculator
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 18, 2026 | No longer available | - | |
| No longer available | |||
| May 16, 2026 | Withdrawn | - | |
| Withdrawn | |||
| May 4, 2026 | Price Decreased |
$625,000
↓ $10K
(1.6%) | |
| Price Decreased | |||
| Apr 30, 2026 | Relisted | $635,000 | |
| Relisted | |||
| Apr 20, 2026 | In contract | - | |
| In contract | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017