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1516 Raindrop Way
About This Property
Upstairs, you'll find three bedrooms plus a versatile loft that can adapt to whatever you need most-a home office, playroom, workout space, additional living area, or a quiet spot to relax. The private primary suite offers a peaceful retreat with an ensuite bathroom featuring a huge walk-in shower. Two additional bedrooms provide plenty of flexibility for guests, hobbies, or other needs, each with a generously sized closet.
Step outside and the low-maintenance lifestyle really shines. The xeriscaped front yard keeps upkeep to a minimum, while the turf backyard gives you green space without the constant mowing and watering. The incredible patio is the perfect place to enjoy morning coffee, host friends, or simply take advantage of Colorado's beautiful weather.
Beyond the home, the location makes everyday life even easier. Enjoy nearby elementary schools, hiking and walking trails, and all that The Meadows has to offer, including community events and pools. You're also just minutes from shopping at the Outlets at Castle Rock, with convenient access to I-25 for an easy commute. If you're looking for a home that combines functional living spaces, flexible room to spread out, outdoor enjoyment, and a truly low-maintenance lifestyle, this one deserves a closer look.
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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 19, 2026 | In contract | - | |
| In contract | |||
| Sep 24, 2026 | Listed | $550,000 | |
| Listed | |||
| Feb 4, 2014 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017