38220 Tierra Real Rd
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 |
|---|---|---|---|
| Mar 30, 2026 | Sold | ||
| Sold | |||
| Feb 27, 2026 | In contract | - | |
| In contract | |||
| Jan 20, 2026 | Listed by Compass | $419,000 | |
| Listed by Compass | |||
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Perched at the end of a private road, this property offers the kind of peace and quiet that is becoming increasingly hard to find. You can wake up every day to expansive, unobstructed vistas that stretch across the rolling hills and rugged beauty of the high desert. Surrounded by nature and tucked away from the hustle, this is the perfect sanctuary for those seeking a tranquil lifestyle or a mountain getaway. A standout feature of the property is the oversized garage, providing ample space for multi-car storage, an expansive workshop, or housing all your outdoor adventure gear. To make this retreat even more efficient, the property features a new solar power system designed to handle the energy needs of both your home and your toys. With the addition of Tesla batteries, you have the peace of mind that comes with reliable energy storage and backup power. The interior is a blank canvas awaiting your vision. While the home needs some TLC, it is structurally ready for a transformation that will instantly add sweat equity. We are offering this property well below market value to accommodate the interior updates needed. Whether you are an investor looking for your next project or a buyer dreaming of customizing a view-home exactly to your taste, this is a rare chance to secure a significant piece of real estate at a fraction of the cost. Act fast, because at this price point, this diamond in the rough won't last long!
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| Mar 19, 2018 | Sold | ||
| Sold | |||
| Nov 6, 2017 | Listed by Turning Leaf Properties | $284,900 | |
| Listed by Turning Leaf Properties | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017