23
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16308 Parkway DR
About This Property
Over the years, the home has been tastefully updated with energy-efficient replacement windows, including a striking picture window that fills the front living space with natural light. The refreshed kitchen showcases quartz countertops, a deep stainless steel sink, updated white cabinetry, a built-in microwave, dishwasher, and a gas range for those who enjoy cooking.
Outside, you'll find a large, level backyard with mature shade trees, full fencing, and plenty of room to relax, entertain, or play. Enjoy the extended flagstone patio, charming front flagstone walkway, and a spacious storage shed (approx. 8' x 10") with a metal roof and double doors for tools, hobbies, or additional storage.
As an added bonus, the home includes fully paid-off solar panels that will convey with the property, offering long-term energy savings and added value for the next owner.
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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 |
|---|---|---|---|
| Jul 28, 2026 | Price Decreased |
$318,500
↓ $7K
(2%) | |
| Price Decreased | |||
| Jul 3, 2026 | Listed by Compass RE Texas, LLC | $325,000 | |
| Listed by Compass RE Texas, LLC | |||
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About Watson Park
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017