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2505 Summit Drive
About This Property
Inside this beautiful DR Horton home you will find a two-story foyer; a well-appointed kitchen (with island, stainless steel appliances, quartz countertops, and subway tile backsplash); a fantastic family room (with a wood-burning fireplace, soaring ceilings, and abundant natural light); a dining room that can comfortably seat eight people; and a spacious laundry room (not just a closet) with washer and dryer included. Near the front door a reading room could function as a office. Upstairs you will find a large primary bedroom with sitting area, walk-in closet, and en-suite bathroom with garden tub and separate shower. Two additional bedrooms have their own walk-in closets and share a bathroom. Other highlights of the property include a fenced backyard, an HOA-owned wooded area (with trails) behind the fence, a two-car garage, a new water heater (2025), and a relatively-new roof (2021). It is a fantastic property in a great location. And at this price, it is an incredible bargain. Call today to arrange a private showing.
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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 |
|---|---|---|---|
| Jul 1, 2026 | Sold | ||
| Sold | |||
| May 26, 2026 | In contract | - | |
| In contract | |||
| May 22, 2026 | Price Decreased |
$425,000
↓ $4K
(0.9%) | |
| Price Decreased | |||
| May 14, 2026 | Price Decreased |
$429,000
↓ $20K
(4.5%) | |
| Price Decreased | |||
| Apr 26, 2026 | Price Decreased |
$449,000
↓ $16K
(3.4%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017