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3581 LEMA DRIVE
About This Property
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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 |
|---|---|---|---|
| Oct 15, 2026 | Listed by TOMMIE DAWSON REALTY | $71,000 | |
| Listed by TOMMIE DAWSON REALTY | |||
| Aug 26, 2026 | Sold | ||
| Sold | |||
| Aug 19, 2026 | In contract | - | |
| In contract | |||
| Jul 12, 2026 | Listed by DALTON WADE INC | $60,000 | |
| Listed by DALTON WADE INC | |||
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This .23-acre Spring Hill lot offers a practical place to begin: a neighborhood setting, no HOA or CDD restrictions, and the freedom to plan a home around how you actually want to live. Create the porch you’ll use every morning, the backyard where friends gather after work, and a home that does not come with someone else’s style choices or project list. The lot is tucked into an established residential area where new construction blends naturally with the everyday rhythm of Spring Hill. It offers the convenience of being close to the things that make daily life easier, while still giving you a place that feels separate from the noise and pace of busier roads. Another major advantage that deserves attention: a gopher tortoise survey has already been completed, with no active burrows found on the property. In Spring Hill, that is meaningful due diligence. Gopher tortoises are protected, and an active burrow can introduce added time, permitting considerations, and potentially significant relocation costs before a build can move ahead. This lot gives a future owner one less unknown to solve.
Whether you are planning a personal residence, a spec build, or simply securing land in a growing area, this is the kind of lot that is easy to overlook—until it is no longer available. No HOA. No CDD. Gopher tortoise survey completed. Bring your plans and start with a clearer path forward. Buyer to verify zoning, dimensions, building requirements, utilities, and all information material to Buyer’s intended use.
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| Oct 24, 2008 | Sold | ||
| Sold | |||
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About Spring Hill
Similar Homes for Sale
Currently no similar homes aroundNearby Rentals
$1,195 /mo
- 2 Beds
- 2 Baths
- 925 ft²
$1,650 /mo
- 3 Beds
- 2 Baths
- 1,200 ft²
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017