23511 Meritage Drive
About This Property
Inside, high ceilings and a rotunda entry set the tone the moment you walk in. The open-concept kitchen features granite countertops, oversized cabinets, and a large walk-in pantry, flowing straight into the main living area so you're never far from the view. A private home office with French doors offers a quiet space to work. The primary suite is its own retreat, with a spa-like bath and walk-in closet.
Built in 2021, this home pairs newer construction with a setting that's hard to find twice.
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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 15, 2026 | Price Decreased |
$445,000
↓ $5K
(1.1%) | |
| Price Decreased | |||
| Sep 30, 2026 | Price Decreased |
$450,000
↓ $10K
(2.2%) | |
| Price Decreased | |||
| Sep 16, 2026 | Listed by UTR TEXAS, REALTORS | $460,000 | |
| Listed by UTR TEXAS, REALTORS | |||
| Apr 2, 2025 | Price Decreased |
$450,000
↓ $15K
(3.2%) | |
| Price Decreased | |||
| Mar 2, 2025 | Relisted | $470,000 | |
| Relisted | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017