38579 Payne Way
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 |
|---|---|---|---|
| Dec 22, 2025 | Sold | ||
| Sold | |||
| Dec 9, 2025 | In contract | - | |
| In contract | |||
| Nov 14, 2025 | Listed by Coldwell Banker Preferred Realtors | $149,900 | |
| Listed by Coldwell Banker Preferred Realtors | |||
| Jun 25, 2025 | Listed | $189,000 | |
| Listed | |||
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Seize this rare opportunity to claim your own escape in the scenic hills of Twin Oaks! Spread across 2.5 usable acres, this 1,440 sq ft, 3-bed, 1.75-bath log cabin is overflowing with untapped potential. Picture yourself transforming it into a peaceful country hideaway, a profitable weekend retreat, or an income-generating rental—the choice is yours. Roll up your sleeves, add your signature touches, and watch your sweat equity soar. With room for gardens, workshops, or even additional guest quarters, the possibilities are limited only by your imagination. Enjoy open skies, crisp mountain air, and endless outdoor adventures right at your doorstep—hiking, trail riding, or simply soaking in panoramic views. Utilities are already in place, and there’s plenty of flat land for RV parking, barns, or a mini-orchard. No HOA restrictions give you the freedom to create your dream space. Just 45 minutes to Bakersfield. Bring all offers—sellers are eager to sell and ready to make a deal!
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| May 27, 2025 | Listed | $250,000 | |
| Listed | |||
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Motivated seller! This 3-bedroom, 1.75-bath home sits on a generous 2.5-acre lot in the scenic hills of Twin Oaks and is an investor’s dream—offering endless potential and a chance to build real sweat equity. Amazing opportunity for buyers looking to renovate and personalize or for investors ready to unlock hidden value. Whether you're envisioning a peaceful country retreat, an income-generating property, or a weekend escape, this property is full of promise. Opportunities like this don’t come often—bring your vision and make it your own! Property to be Sold As-Is with no repairs.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017