1503 Red Town RD
About This Property
Welcome to this beautiful farmhouse in Elgin, TX! Nestled amidst mature trees, this property exudes charm and modern comfort. As you step inside, you are greeted by a bright, airy interior that instantly feels like home. The front and rear porches provide perfect spots for relaxing and enjoying the serene surroundings. The kitchen and bathrooms have been tastefully updated, seamlessly blending modern amenities with the farmhouse's classic appeal. A versatile storage building, currently set up as a dog kennel and workshop, offers potential for additional living space with some renovation. Horse enthusiasts will appreciate the large barn complete with a tack room, while the pond and wet weather creek add to the property's natural beauty. The property is also well-suited for livestock, featuring an electric perimeter fence for security-please be cautious during showings. Neighbor's cattle currently graze the land, and this arrangement can be continued by the buyer for an agricultural exemption if desired. Don't miss the opportunity to own this charming farmhouse that combines country living with modern conveniences.
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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 |
|---|---|---|---|
| Jun 7, 2024 | In contract | - | |
| In contract | |||
| May 29, 2024 | Listed by Keller Williams Realty | $540,000 | |
| Listed by Keller Williams Realty | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017