1608 Carmine DR
About This Property
The open-concept living area is anchored by a vaulted ceiling with tongue-and-groove wood detailing and exposed beams. Flexible updates include a media room with custom built-ins and iron doors, plus a converted second family room now serving as a fourth bedroom.
Owner-added improvements continue outdoors with low-maintenance xeriscape landscaping, an expanded deck, and a covered patio with gas connection for grilling. Walkable to White Stone Elementary, this home blends model-home quality, thoughtful upgrades, and everyday functionality in a desirable Leander location.
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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 |
|---|---|---|---|
| Aug 5, 2026 | In contract | - | |
| In contract | |||
| Jul 11, 2026 | Price Decreased |
$664,900
↓ $15K
(2.2%) | |
| Price Decreased | |||
| May 30, 2026 | Listed by Compass RE Texas, LLC | $679,900 | |
| Listed by Compass RE Texas, LLC | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017