228 Red Hill Road
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 |
|---|---|---|---|
| Oct 26, 2026 | Listed by EXP Realty | $1,200,000 | |
| Listed by EXP Realty | |||
| Jul 22, 2026 | Listed by EXP Realty | $1,350,000 | |
| Listed by EXP Realty | |||
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Welcome to 228 Red Hill Road, located in the highly sought-after Oak Hill section of Middletown. Set on over 1.5 acres, this true mother-daughter home offers a rare opportunity to create the property you've always envisioned. Whether you're searching for a multi-generational home, a private compound, room for a farm, or simply the chance to renovate and make it your own, the possibilities here are endless. Expansive parcels like this are becoming increasingly rare--they're not making any more land. Perfectly positioned just minutes from the Garden State Parkway, Jersey Shore beaches, NYC ferry, train, and bus transportation, top-rated parks, shopping, and dining, this home offers the perfect balance of privacy and convenience. Enjoy the unmatched lifestyle that makes Middletown one of Monmouth County's most desirable places to call home. Bring your vision and transform 228 Red Hill Road into the home you've always dreamed of.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017