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1651 Griffith Road
About This Property
This is your last chance to own a brand new construction home in Palmetto, Abilene's most exclusive boutique waterfront community. Nestled on the final available lot, this stunning 4-bedroom, 2-bathroom home offers over 2,000 square feet of thoughtfully designed living space with an open floor plan and luxury finishes throughout.
From the moment you step onto your front porch, you'll feel the difference. Walk directly onto the private waterfront greenspace, stroll the scenic walking trails, and take in breathtaking lake views - all just steps from your front door. Palmetto's community waterfront area was designed for connection and relaxation, offering green space and entertainment areas that make every day feel like a getaway.
What truly sets Palmetto apart is its one-of-a-kind coastal style architecture - a refreshing aesthetic unlike anything else in Abilene. These homes were built with intention, blending upscale design with a warm, community-centered lifestyle.
Inside, you'll love the beautiful quartz countertops and luxury vinyl tile flooring - high-end finishes that are as durable as they are stunning. Completion date August 2026
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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 1, 2026 | Sold | ||
| Sold | |||
| Jun 5, 2026 | In contract | - | |
| In contract | |||
| May 25, 2026 | Listed by ACR-ANN CARR REALTORS | $429,000 | |
| Listed by ACR-ANN CARR REALTORS | |||
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About Abilene Heights Area
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017