2508 REDMILES DRIVE
About This Property
The main living room welcomes you with a graceful bow window that floods the space with light, plus a cozy propane fireplace, perfect for relaxing evenings at home.
The star of the home is the family room addition, which dramatically expands the living space. Large windows fill the room with natural light and offer a prime view of the gorgeous backyard. Brand new carpet completes the space.
The kitchen is a delight, featuring black granite countertops, a smart layout, abundant counter space, and plenty of cabinet storage for all your cooking and entertaining needs.
Downstairs, the large finished walkout basement offers brand new LVP flooring, new warm LED lighting throughout, and endless flexibility for a rec room, home gym, or guest space. You'll also find a generous laundry room with cabinetry for cleaning and laundry supplies, a large work room, and a spacious, dedicated storage room complete with a cedar closet and lots of shelving.
What truly sets this property apart is the outdoor space. The front yard makes a lovely first impression, but the backyard will take your breath away. Backing directly to protected parkland, with no rear neighbors, this property offers a level of privacy that's hard to find. Professionally landscaped with well-appointed mature trees and tranquil water features, it creates a private, serene oasis. Step outside and you'll feel like you're on a peaceful nature retreat. The paved patio with propane fire pit is the perfect spot for entertaining or unwinding under the stars, and the fully fenced yard, complete with deer fencing, keeps the landscape protected.
Even the carport is a pleasant surprise. This spacious 2-car carport is unlike any you've seen, featuring windows along one side, clean white walls and ceiling, a chandelier, and sliding glass doors that open directly to the paved patio and backyard. It also provides access to a large, clean, and well-lit storage shed with power.
The sellers have made numerous thoughtful updates and improvements over the past 10 years, giving buyers added confidence and peace of mind. Among the most significant are a new roof in 2024 with a 50-year transferable warranty, a whole-house generator, replacement of the potable water piping in the basement, and a new washer and dryer. Additional updates throughout the home, including newer windows and a water heater, reflect the exceptional care and maintenance this property has received. For even greater peace of mind, the sellers are providing a home warranty and several service contracts paid through 2026.
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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 |
|---|---|---|---|
| Aug 13, 2026 | Sold | ||
| Sold | |||
| Jul 15, 2026 | In contract | - | |
| In contract | |||
| Jul 9, 2026 | Listed by Weichert, REALTORS | $695,000 | |
| Listed by Weichert, REALTORS | |||
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About Cloverly
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017