16100 SE 253RD COURT
About This Property
If you've been looking for a property with room to make it your own, this one is worth a look. The sale includes three platted lots totaling approximately 0.70 acre, all being sold together. Lot 38 includes an existing 3-bedroom, 2-bath manufactured home that needs extensive renovation, making it a great project for someone who is ready to put in the work and bring it back to life.Lots 36 and 37 offer additional space and include a large detached metal workshop/garage, perfect for storage, tools, equipment, or weekend projects. Per Marion County, EACH lot meets county standards for legal buildability, has street access, and the current zoning allows residential use. Buyers should still verify well and septic requirements, spacing, permitting, and their intended use directly with the county. Whether you're looking to renovate, invest, or simply take advantage of the extra land and possibilities, this property has a lot of potential. All three lots are being sold together and the property is being sold AS-IS. All measurements are approximate and should be independently verified.
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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 20, 2026 | In contract | - | |
| In contract | |||
| Sep 24, 2026 | Price Decreased |
$40,000
↓ $5K
(11.1%) | |
| Price Decreased | |||
| Aug 18, 2026 | Listed by KELLER WILLIAMS HERITAGE REALTY | $45,000 | |
| Listed by KELLER WILLIAMS HERITAGE REALTY | |||
| Feb 29, 2016 | Sold | ||
| Sold | |||
| Jun 14, 2011 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017