1308 Madeline Street
About This Property
Outside, this property offers a unique setup with two separate, fully fenced yard areas, giving you flexibility for pets, play, entertaining, or gardening. An expanded patio provides additional outdoor living space, while a storage shed offers convenient room for lawn equipment, tools, and more. Additional exterior improvements include updated fencing, cedar shutters, cedar porch posts, a wood front door, exterior paint, and an updated Rain Bird sprinkler system.
Major improvements provide added peace of mind, including a full roof and gutter replacement with gutter guards in 2022, water heater replaced in 2025, and a new AC condenser heat pump installed in June 2025. The 2019 Maytag washer and dryer will convey with the home.
Seller is offering up to $5,000 in seller concessions with an acceptable offer, and be sure to ask about additional incentives available when using the preferred lender which could include an additional 1% Concessions or a 1 year, 1% rate buy down. With numerous updates, generous living spaces, great storage, versatile outdoor areas, and valuable buyer incentives, this Commerce home is ready for its next owner!
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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 6, 2026 | Sold | ||
| Sold | |||
| Sep 8, 2026 | In contract | - | |
| In contract | |||
| Aug 25, 2026 | Listed by All City | $324,800 | |
| Listed by All City | |||
| Aug 21, 2026 | No longer available | - | |
| No longer available | |||
| Jul 29, 2026 | Price Decreased |
$324,900
↓ $5K
(1.5%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017