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347 Novel
About This Property
Welcome to 347 Novel, an exceptional residence offering 3 bedrooms, 3.5 bathrooms, and approximately 1,791 sqft of thoughtfully designed living space. Showcasing extensive upgrades and a polished, model-home-like aesthetic, this home features THREE PRIVATE ENSUITE BEDROOMS, including a convenient first-floor bedroom with its own ensuite bathroom, ideal for guests, extended family, or a private home office.
The second level serves as the heart of the home, featuring an inviting open-concept kitchen, dining, and living area with access to a balcony. Rich warm-brown cabinetry extends to the ceiling, complemented by wood flooring throughout and a spacious kitchen island with bar seating. The living room is highlighted by elegant wood-paneled accent walls with integrated LED lighting, adding warmth, depth, and a sophisticated designer touch. Large windows fill the space with natural light, fresh interior paint.The upper level features two additional ensuite bedrooms positioned at the front and rear of the home, offering a greater sense of openness, natural light, and privacy. Additional highlights include direct access to a two-car garage and a unique layout with shared walls only at the garage level, providing enhanced privacy throughout the second and third floors.
Residents are within walking distance of the Novel Park clubhouse, two dog parks, and coffee shop. The community offers a vibrant social lifestyle with clubs and groups for a variety of interests, along with year-round events. Enjoy an impressive collection of RESORT-STYLE AMENITIES, including multiple pools, spa, parks, pickleball, basketball and tennis courts, outdoor kitchens, playgrounds, and clubhouses for private gatherings.
The location is equally appealing, with THE CANOPY, Great Park's upcoming retail and dining destination, just minutes away. Families will appreciate access to TOP-RATED IRVINE UNIFIED SCHOOLS, including Beacon Park K-8 and Portola High School.Woodbury Town Center, Irvine Spectrum Center, and Laguna Beach are also within a short drive, offering convenient access to shopping, dining, and coastal recreation.THIS IS THE HOME YOU DESERVE!
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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 |
|---|---|---|---|
| Oct 7, 2026 | Listed by Realty One Group West | $1,280,000 | |
| Listed by Realty One Group West | |||
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| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
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Building Info
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017