3837 State Highway 31
About This Property
The property includes three entrances with culverts off Hwy 31, 2 water meters in use multiple RV hook ups. A 2,000 sq. ft. insulated shop sits next to the home, income producing potential, or multi-generational living. Two additional entrances feature electric poles and septic systems; seller is unsure of the condition of those septic tanks.
With its dense tree coverage, multiple water meters, wildlife, and spacious layout, this property could be transformed into a beautiful RV park, a private homestead, or the dream home in the woods you've always wanted. The land is truly a diamond in the rough with opportunity at every turn.
No survey available-buyer to obtain.
Property sold AS IS.
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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 |
|---|---|---|---|
| Apr 7, 2026 | Sold | ||
| Sold | |||
| Feb 22, 2026 | In contract | - | |
| In contract | |||
| Jan 20, 2026 | Price Decreased |
$360,000
↓ $40K
(10%) | |
| Price Decreased | |||
| Dec 2, 2025 | Listed by Fathom Realty | $400,000 | |
| Listed by Fathom Realty | |||
| Jan 1, 2023 | No longer available | - | |
| No longer available | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017