23
Map
135 Stephenson Drive
About This Property
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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 |
|---|---|---|---|
| Feb 28, 2025 | Sold | ||
| Sold | |||
| Feb 18, 2025 | In contract | - | |
| In contract | |||
| Feb 11, 2025 | Listed by RE/MAX SOLUTIONS | $235,000 | |
| Listed by RE/MAX SOLUTIONS | |||
| | |||
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This property presents a prime investment opportunity in a desirable, well-established neighborhood. Whether you're looking for a buy-and-hold rental or a profitable flip, this home offers excellent potential.
A fire in the primary bedroom—caused by a lit cigarette—was quickly contained by the fire department. There is no damage to the roof trusses, and a certificate of livability is attached to the MLS. The property does require a new roof, and a $12,500 quote is available. Seller is willing to install a new roof with agreed on terms.
The major systems have been updated, with newer electric and plumbing already in place. Both bathrooms and flooring have been recently renovated, ensuring modern comfort. The home features a neutral monochrome color palette, allowing you to customize the space to your taste.
Enjoy the large screened back porch, perfect for relaxing while overlooking the expansive backyard with stunning oak trees providing ample shade. A shed in the backyard offers convenient storage for tools and outdoor equipment.
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| Feb 6, 2025 | In contract | - | |
| In contract | |||
| Feb 3, 2025 | Price Decreased |
$235,000
↓ $35K
(13%) | |
| Price Decreased | |||
Property Highlights
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About Melbourne Estates
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Currently no similar homes aroundNearby Rentals
$1,925 /mo
- 3 Beds
- 1 Bath
- 840 ft²
$2,000 /mo
- 3 Beds
- 1 Bath
- 900 ft²
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017