1387 GRIFLET Road
About This Property
This property offers exceptional potential in a quiet, well-established neighborhood. Formerly a rental, it needs some updating but has a solid structure and layout that's easy to improve. With an open floor plan, a large entry room, and a bathroom conveniently located near the carport, it can easily be converted into a 3-bedroom, 2-bath or even 4-bedroom, 2-bath home. The HVAC system needs some repairs, but they appear to be minor and manageable, and all window units are fully functional. Sitting on a large lot, there's plenty of room to expand or add onto the home, offering multiple possibilities for customization and value growth. Ideal for investors, flippers, or buyers ready to renovate and unlock its full potential. Sold As-Is.
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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 |
|---|---|---|---|
| May 8, 2026 | Sold | ||
| Sold | |||
| Apr 13, 2026 | In contract | - | |
| In contract | |||
| Apr 7, 2026 | Relisted | $149,500 | |
| Relisted | |||
| Apr 2, 2026 | In contract | - | |
| In contract | |||
| Mar 26, 2026 | Listed by FLORIDA HOMES REALTY & MTG LLC | $149,500 | |
| Listed by FLORIDA HOMES REALTY & MTG LLC | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017