2 Melody Lane
About This Property
The outdoor spaces are designed for relaxing and entertaining, featuring a finished 3-season room with hot tub, rear wood deck, concrete patio, covered outdoor kitchen and entertaining area, and a large custom cultured-stone outdoor fireplace. The private backyard is beautifully landscaped with mature trees, hydrangeas, evergreens, extensive plantings, stone and river-rock accents, privacy fencing and a large open lawn.
The versatile basement provides additional space with a dedicated laundry room, plus rooms that could be used as a home office, oversized pantry, hobby/storage area or workout space. Additional amenities include a 1-car attached garage, central air, forced hot-air heating and generator. Multiple outbuildings provide abundant storage, including a she/he shed, covered wood storage and a large storage building with garage-door access.
A truly special property offering updated living spaces, beautiful landscaping and exceptional opportunities for relaxing and entertaining--inside and out.
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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 30, 2026 | Sold | ||
| Sold | |||
| Sep 12, 2026 | In contract | - | |
| In contract | |||
| Sep 10, 2026 | Listed by Capital Tech Real Estate Group LLC | $469,000 | |
| Listed by Capital Tech Real Estate Group LLC | |||
| May 14, 2018 | Sold | ||
| Sold | |||
| Mar 9, 2018 | Listed by Capital Tech Real Estate Group LLC | $249,800 | |
| Listed by Capital Tech Real Estate Group LLC | |||
Property Highlights
Building Info
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About Albany
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017