2597 Highway 587
About This Property
The property is well laid out with cross-fencing for easy pasture rotation and multiple uses, plus beautiful views and several appealing homesites. Improvements include a 1,600 sq ft fully insulated building with plumbing already in place-perfect for a shop or barn, with the potential to finish out as living space. A large side overhang adds excellent covered storage for equipment or hay. Additional features include an extra storage shed and several pens ready for livestock.
Water is a standout with two wells supporting the property and feeding the tanks, providing reliable resources for both livestock and recreation.
Good fencing, fantastic location, paved road access, improvements in place, multi purpose use!! If you've been looking for a versatile, income-producing tract close to town with solid improvements already in place, this one is a must-see. Speak to the agent about items that can keep with the property.
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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 |
|---|---|---|---|
| Jun 15, 2026 | Sold | ||
| Sold | |||
| May 8, 2026 | In contract | - | |
| In contract | |||
| Feb 5, 2026 | Listed by Ebby Halliday Realtors | $2,100,000 | |
| Listed by Ebby Halliday Realtors | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017