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21 Covington Drive
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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%.
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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 |
|---|---|---|---|
| Apr 7, 2020 | Sold | ||
| Sold | |||
| Feb 28, 2020 | Listed by RE/MAX Consultants | $725,000 | |
| Listed by RE/MAX Consultants | |||
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Amazing south facing, private back yard, with a pebble tech salt water pool and spa has wonderful entertainment areas! Travertine patio, a large island with BBQ, side burner, warmer and refrigerator, with seating. Fire pit for those cooler Desert evenings is surrounded by comfortable built-in seating and bordered by two fire bowls. Enjoy putting on your astro turf putting green and pick lemons, limes and oranges from your own fruit trees! This lovely 3 bedroom, 2.5 bath, 2525 sq ft home has an open floor plan - great room with fireplace, formal dining and dinette off the kitchen. Spacious master suite with access to patio and a gorgeous remodeled master bath with a walk in custom built closet. One of the 2 guest bedrooms has a built in desk and access to patio. A few of the many updates are windows, including the modern 4 panel multi slide patio doors which stacks to one in the great room. This home is energy efficient with the addition of 25 solar panels in 2019 with a balance of 24 years on prepaid lease. 3 car garage with epoxy finish floor. The community of Montecito Homes is gated with guard and surrounded by the popular Desert Willows Golf Courses. Close to shopping.
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About Palm Desert
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017