268 Cherry Lane
About This Property
The property currently includes a 2-bedroom ranch home with public water, sewer, and gas already connected - giving you flexibility to renovate, rent, or build new. The land itself is the real value here: level, usable, and located just minutes from shopping, schools, and all that Airmont and Monsey have to offer.
A true opportunity for buyers, builders, or investors looking for a solid long-term move in a high-demand neighborhood.
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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 |
|---|---|---|---|
| Aug 13, 2025 | Sold | ||
| Sold | |||
| Jul 10, 2025 | In contract | - | |
| In contract | |||
| May 20, 2025 | Price Increased |
$1,299,000
↑ $149K
(13%) | |
| Price Increased | |||
| May 9, 2025 | Price Decreased |
$1,150,000
↓ $149K
(11.5%) | |
| Price Decreased | |||
| Apr 21, 2025 | Listed by Keller Williams Valley Realty | $1,299,000 | |
| Listed by Keller Williams Valley Realty | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017