194 Rainbow Trl
About This Property
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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 20, 2025 | Sold | ||
| Sold | |||
| Jun 16, 2025 | In contract | - | |
| In contract | |||
| Feb 27, 2025 | Listed by HomeSmart | $189,000 | |
| Listed by HomeSmart | |||
| Aug 11, 2024 | Price Decreased |
$225,000
↓ $25K
(10%) | |
| Price Decreased | |||
| Apr 24, 2024 | Listed | $250,000 | |
| Listed | |||
| | |||
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Ready to build on AMAZING lot in beautiful Spring Valley. This lot has a spectacular full view of Pikes Peak Mountain. Plus, it is 1.74 acres! The electric pole and transformer have been paid for and installed for a house to be built. A 5-bathroom engineered septic has also been installed, and there is even a building permit and driveway permit! House plans for an amazing 5 bedroom home are also available. So instead of waiting for many months or even a year for a building permit, an electric pole and transformer along with the engineered septic, you are ready to break ground and start building your dream home! Spring Valley also has their own water system, so an expensive well is not needed. Plus, it takes about a year or more to even get a well installed! Spring Valley has a beautiful, stocked trout lake that takes in a fabulous Pikes Peak view along with 3 ponds to fish or canoe on. It is 5 minutes from the National Forest providing miles of hiking, dirt biking and 4 wheeling. Skiing is only over an hour away. Amenities are only 10 minutes away from this beautiful rural community. Lots with spectacular views and acreage like this are scarce and few and far between. The seller is also a local premier builder who designed the house who you could also hire him to build the home if so desired! You will not find anything like this in the area to compare it to! The lot is clearly marked with stakes and the seller also has the house that could be built clearly marked out with descriptions on the stakes. It is designed to take in every bit of that AMAZING view. If you want to live in paradise this is the lot for you!
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017