1
Map
38 Farmview Drive
About This Property
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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 |
|---|---|---|---|
| Sep 28, 2026 | Listed by Real Broker CT, LLC | $49,000 | |
| Listed by Real Broker CT, LLC | |||
| May 29, 2026 | Price Decreased |
$55,000
↓ $10K
(15.4%) | |
| Price Decreased | |||
| Mar 13, 2026 | Listed by Real Broker CT, LLC | $65,000 | |
| Listed by Real Broker CT, LLC | |||
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Opportunity to build in an established residential neighborhood on Farmview Drive in Norwich. This parcel offers a great setting to design and build the home you've been envisioning while enjoying the space and privacy that land ownership provides. Located in a convenient area close to shopping, restaurants, and major commuting routes, the property combines a peaceful neighborhood setting with easy access to local amenities. Whether you're looking to build now or secure land for a future home, this lot presents a great opportunity in a desirable Norwich location.
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| Aug 28, 2025 | Sold | ||
| Sold | |||
| Aug 14, 2025 | In contract | - | |
| In contract | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017