23 Watertree Drive
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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 |
|---|---|---|---|
| Feb 6, 2026 | Sold | ||
| Sold | |||
| Jan 21, 2026 | In contract | - | |
| In contract | |||
| Jan 16, 2026 | Listed by Better Homes and Gardens Real Estate Gary Greene - The Woodlands | $1,599,000 | |
| Listed by Better Homes and Gardens Real Estate Gary Greene - The Woodlands | |||
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This Striking five-bedroom, five-bath residence offers expansive living space in one of The Woodlands’ most established neighborhoods. Timeless design meets modern updates with hardwood flooring, fresh neutral paint, abundant natural light, and versatile living areas ideal for entertaining or flexible lifestyles. The chef-inspired kitchen features premium JennAir appliances, and a custom-built library with floor-to-ceiling shelving and rolling ladder creates a dramatic focal point. Recent improvements include updated HVAC systems and a whole-home generator. Outdoors, enjoy a private retreat with a resort-style pool, spa, refreshed pool deck, outdoor shower, upgraded landscape lighting, and professionally maintained grounds. Set among mature trees and custom estates, the neighborhood offers privacy, architectural character, and convenient access to top-rated schools, trails, and premier shopping and dining.
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| Dec 21, 2025 | No longer available | - | |
| No longer available | |||
| Oct 30, 2025 | Price Decreased |
$1,625,000
↓ $50K
(3%) | |
| Price Decreased | |||
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About The Woodlands
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$7,505 /mo
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$4,900 /mo
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017