39
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206 Rainbow Circle
About This Property
The spacious main living room features a cozy wood-burning fireplace and plenty of room for gathering with family and friends. A separate living area offers flexibility to fit your lifestyle and can serve as a home office, study, art room, library, or additional entertainment space. Recent updates include fresh paint in the secondary bedrooms and primary bathroom, along with new carpet, creating a move-in-ready foundation while still allowing room to add your personal touches.
The galley-style kitchen offers ample workspace, a breakfast bar, and a separate breakfast nook perfect for casual dining. The oversized primary suite easily accommodates a king-sized bed and large furniture and includes private access to the expansive covered patio.
Step outside and discover a backyard designed for relaxation and creativity. With mature trees, stone planters, and no grass to maintain, this private outdoor retreat is ideal for gardeners, morning coffee enthusiasts, or anyone seeking a peaceful space to unwind.
Chandler's Landing residents enjoy an exceptional lifestyle with gated security, a yacht club, restaurant, tennis courts, stocked fishing ponds, and a welcoming community atmosphere. Priced to allow you to bring your own vision and updates, this is a rare opportunity to own a custom home in one of Rockwall's most desirable neighborhoods and create the home you've always imagined.
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Cap Rate Calculator
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 | |||
| Oct 4, 2026 | In contract | - | |
| In contract | |||
| Sep 26, 2026 | Relisted | $350,000 | |
| Relisted | |||
| Sep 25, 2026 | In contract | - | |
| In contract | |||
| Sep 14, 2026 | Price Decreased |
$350,000
↓ $25K
(6.5%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017