161 N RIVER Drive
About This Property
This Arthur Rutenberg Biscayne Model was built to impress -- then upgraded to another level entirely. Spread across 3,681 square feet with 4 bedrooms and 4 full bathrooms, every detail has been considered. A 3-car garage, plantation shutters throughout, central vac, water softener, H2O water system, barrel tile roof, landscape lighting, Don't miss the second-story attic above the garage with an automated lift -- tons of storage and you won't lift a thing.
Palencia offers resort-style living with tennis, community pools, walking trails, and year-round activities. An A-rated elementary school sits right inside the community, and residents can join the Palencia Club for golf and social events! This has it all!
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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 31, 2026 | In contract | - | |
| In contract | |||
| Aug 21, 2026 | Price Decreased |
$1,325,000
↓ $74K
(5.3%) | |
| Price Decreased | |||
| Jul 3, 2026 | Price Decreased |
$1,399,000
↓ $100K
(6.7%) | |
| Price Decreased | |||
| May 28, 2026 | Price Decreased |
$1,499,000
↓ $50K
(3.2%) | |
| Price Decreased | |||
| May 5, 2026 | Listed by EXP REALTY LLC | $1,549,000 | |
| Listed by EXP REALTY LLC | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017