240 Gill Point Lane
About This Property
Welcome to this beautifully designed three bed three and a half bath home that blends modern comfort with timeless elegance in sought-after Morningstar! Located in the heart of Aledo, this spacious residence offers the perfect combination of luxury and functionality. Step inside to discover an open-concept floor plan featuring light filled living area with soaring ceilings and stylish finishes throughout. The gourmet kitchen boasts stainless steel appliance's, granite countertops, and a large island ideal for both everyday living and entertaining. The primary suite is a true retreat with a spa-like en-suite, complete with soaking tub, walk-in shower, and dual vanities. Two additional bedrooms each offer their own private bathroom, providing comfort and privacy for family or guests. Working from home is a breeze with a dedicated home office, and the upstairs flex space offers endless possibilities. Outside, enjoy a spacious backyard with room to play, garden, or even add a pool. Plus, a large, covered patio perfect for relaxing! The Morningstar community offers abundant amenities, including a pool, amenity center, fishing pond, jogging paths, trails, sand volleyball, soccer, basketball, and a dog park. Brand-new Lynn McKinney Elementary School is also within walking distance! New amenities coming to Morningstar are within a two-minute walk [a second amenities center, including an additional pool, etc. is planned for the next phase, currently under development, to the north of the home, within a two-minute walk]. This home combines luxury features, ample living space, and benefits of a well-appointed community! very, motivated seller.
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Cap Rate Calculator
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 |
|---|---|---|---|
| Jul 30, 2025 | Sold | ||
| Sold | |||
| Jun 30, 2025 | In contract | - | |
| In contract | |||
| Jun 28, 2025 | Price Decreased |
$395,000
↓ $5K
(1.3%) | |
| Price Decreased | |||
| Jun 15, 2025 | Price Decreased |
$400,000
↓ $15K
(3.6%) | |
| Price Decreased | |||
| Jun 6, 2025 | Listed by League Real Estate | $415,000 | |
| Listed by League Real Estate | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017