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2307 Elmgate Drive
About This Property
This home is a true time capsule with tremendous renovation potential and is ready for someone with vision to bring it back to life. Yes, you'll find some memorable features from another era-including sculptured shag carpet, metallic accents, and felt wallpaper-but underneath it all is a fantastic floor plan with generous room sizes and plenty of possibilities. 2344 SQUARE FEET
The property is being cleared, part of two estates, so please pardon the mess during the process. Look beyond the contents and imagine what this home could become. For the buyer looking for a renovation opportunity, this one has the space, layout, and potential to create something truly special. WRITE UP
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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 |
|---|---|---|---|
| Sep 15, 2026 | In contract | - | |
| In contract | |||
| Sep 9, 2026 | Relisted | $359,000 | |
| Relisted | |||
| Aug 28, 2026 | Withdrawn | - | |
| Withdrawn | |||
| Aug 19, 2026 | In contract | - | |
| In contract | |||
| Aug 15, 2026 | Listed by Houstonian Properties | $359,000 | |
| Listed by Houstonian Properties | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017