263 County Road 1602
About This Property
The property is served by both city water and a 730-foot deep well. A backup generator supports the kitchen during outages, and the home includes gas heaters in the bathrooms along with three fireplaces-two wood-burning and one gas. A reinforced safe room is also in place and could serve as a fifth bedroom, with plumbing already available for a third bathroom.
Designed with efficiency in mind, the home features a wraparound porch, steel roof, R-30 insulation, and a recently replaced 5-ton HVAC unit. Inside, ceilings rise to 18 feet, creating an open feel throughout. The kitchen includes custom Shaker cabinetry, quartz countertops, a Sub-Zero-style refrigerator and freezer, gas cooktop, double ovens, microwave, pantry, built-in desk, bookshelves, and a newer icemaker. An oversized laundry room provides additional storage and workspace.
The detached 1,800-square-foot shop includes a finished apartment with custom cabinetry, a full kitchen, bathroom, laundry area, spacious closet, and covered porch. The remaining space is dedicated to garage and workshop use.
Outdoor features include a covered back patio with an outdoor fireplace and wide-open views. The primary suite offers an updated walk-in shower with glass doors and multiple closets. Additional finishes include solid wood doors, custom cabinetry, and low-maintenance scored concrete floors. The property also carries an agricultural exemption through timber for tax savings.
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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%.
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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 19, 2026 | Price Decreased |
$770,500
↓ $5K
(0.6%) | |
| Price Decreased | |||
| Jul 10, 2026 | Listed by Decorative Real Estate | $775,000 | |
| Listed by Decorative Real Estate | |||
| Feb 16, 2024 | No longer available | - | |
| No longer available | |||
| Aug 31, 2023 | Listed by MLM Real Estate | $778,643 | |
| Listed by MLM Real Estate | |||
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Experience the charm of Texas in this unique property featuring Texas White Limestone. With its soaring ceilings, warm pecan finishes, and scored concrete floors throughout, this home offers a touch of elegance. The envy of your neighbors, the property boasts a 730-foot well providing the best-tasting water in town. Step inside to discover porcelain fixtures that appear brand new, a testament to their impeccable condition. Custom-built with west-facing porches, you can savor captivating sunsets each evening. The solid steel roof not only keeps your home dry but also helps lower insurance premiums. Perfect for equestrian enthusiasts or other projects, this property is ideally situated near Lake of the Pines and Wright Patman for those who enjoy fishing. With low maintenance in mind, sidewalks encircle the entire house. And let's not forget the amazing kitchen—a haven that invites you to unleash your culinary creativity. It boasts a huge "Sub Zero-like" stainless refrigerator/freezer and a Thermador dual fuel range with electric convection oven. Designed for effortless entertaining, the property features quartz countertops that beautifully complement the soft pecan stain on the cabinets. The cabinets themselves showcase a modified shaker style without any hardware. The property also offers a well-insulated shop, perfect for safeguarding equipment. Additionally, you'll find a 900 sq ft living quarters within the shop. This space features a kitchen, laundry area, bedroom, spacious closet, and an open living area, all exuding the same level of quality as the main house. The manager has listed the unit size as 3861 square feet.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017