1221 Falcon Drive
About This Property
The backyard is a true resort-style oasis, anchored by a stunning custom Trident pool with an in-floor cleaning system, water features, and dramatic fire bowls. A custom cabana with a motorized screen and Big Ass Fan makes this the ultimate space to entertain or unwind while watching those iconic Texas sunsets.
Inside, the unique and functional floor plan impresses immediately. Oversized windows along the back of the home frame the breathtaking backyard from the moment you enter the front door, filling every room with natural light and seamless indoor-outdoor living. Custom touches are found throughout: hardwood floors, upgraded granite countertops, designer lighting, remote-controlled window coverings, and plantation shutters create a sophisticated yet livable interior. A walkout from the first floor puts you steps away from the pool at all times.
Located just minutes from Downtown Grapevine, Lake Grapevine, and the Gaylord Texan, this home delivers on lifestyle just as much as it delivers on luxury. Homes on lots like this do not come available often. Do not miss your opportunity.
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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 4, 2026 | Sold | ||
| Sold | |||
| Jul 6, 2026 | In contract | - | |
| In contract | |||
| Jun 8, 2026 | Listed by BK Real Estate | $1,500,000 | |
| Listed by BK Real Estate | |||
| Oct 25, 2022 | Sold | ||
| Sold | |||
| Sep 19, 2022 | Listed by Compass RE Texas, LLC | $1,200,000 | |
| Listed by Compass RE Texas, LLC | |||
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The moment you walk into this house you will be IMPRESSED! Located on one of the most sought after lots in Grapevine backing to the Corp of Engineer Property. The backyard oasis has a beautiful custom Trident Pool with in floor cleaning system, water features and fire bowls plus a cabana with motorized screen and Big Ass Fan to enjoy those Texas sunsets! Inside you will enjoy this unique and functional flow of this floor plan. Upon entering from the front door you will be welcomed with views of the outdoors with oversized windows along the back of the house. There are so many custom interior finishes including wood floors throughout, upgraded granite countertops, gorgeous lighting, remote window coverings and plantation shutters along with a walkout first floor to enjoy your breathtaking backyard. This neighborhood is minutes from Downtown Grapevine, Lake Grapevine and the Gaylord Hotel and we are excited to share this home with you!
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017