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3501 RHODE ISLAND AVENUE
About This Property
Whether you're looking to expand your investment portfolio or live in one unit while renting the others, this property delivers strong potential. This is a rare multi-unit opportunity in a highly sought-after location. Tenant's require 24 hrs notice
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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 |
|---|---|---|---|
| Sep 22, 2026 | In contract | - | |
| In contract | |||
| Sep 17, 2026 | Sold | ||
| Sold | |||
| Jul 25, 2026 | In contract | - | |
| In contract | |||
| Jan 16, 2026 | Listed by Samson Properties | $450,000 | |
| Listed by Samson Properties | |||
| Nov 29, 2025 | Listed by Samson Properties | $450,000 | |
| Listed by Samson Properties | |||
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Discover this spacious income-producing triplex, ideally located just minutes from the Metro and steps from the bus depot. The property features two 2BR/1BA units and one efficiency, offering flexible rental or owner-occupant options. Two units are currently occupied, with one vacant and ready for immediate move-in or market-rate leasing (see pictures). Residents enjoy off-street parking, shared laundry, and a private deck on one of the units for added outdoor living space. 2 miles to the Redline. 3.8 miles to the Green line. 3.6 miles to College Park University.
Whether you're looking to expand your investment portfolio or live in one unit while renting the others, this property delivers strong potential. This is a rare multi-unit opportunity in a highly sought-after location. Tenant's require 24 hrs notice.
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About Mount Rainier
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017