391 Elm Ave.
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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 |
|---|---|---|---|
| May 28, 2025 | Sold | ||
| Sold | |||
| Apr 25, 2025 | Listed by eXp Realty of Southern California, Inc. | $1,500,000 | |
| Listed by eXp Realty of Southern California, Inc. | |||
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Absolute Best Home in IB, No Detail Overlooked. The most thoughtfully upgraded home, just 3-blocks to the beach. This single-level masterpiece is the kind of forever home people dream of, but rarely find. Every item was handpicked at the highest standard, not for resale, but for legacy living. Wood-plank porcelain tile flooring thru-out, custom shiplap accent walls, designer lights & fans thru-out. Chef’s Kitchen: quartzite counters, island w/power, seating for 3, built-in KitchenAid fridge, 5-burner gas stove w/pot-filler faucet, pearlescent subway tile backsplash, soft-close shaker cabinets. Entertainer’s Bar: quartzite counters, stainless sink, 166-bottle wine fridge, beverage fridge, 3-tap kegerator, custom glassware shelves w/stemware rack. Luxurious primary suite: walk-in closet w/floor-to-ceiling built-ins, sliding glass door to patio. En-suite bath: dual sinks, back-lit mirrors, Perla Picket mosaic backsplash, rainfall showerhead, river pebble flooring, built-in bench, heated towel rack. Backyard is a 5-Star Resort: 590 sq.ft. covered patio transforms into 4-distinct living spaces: Lounge area w/66” gas fire pit, surrounded by lush tropical landscaping. TV area w/in-wall gas fireplace, ceiling heater. Outdoor Kitchen: built-in pellet smoker, gas BBQ, side burner, concrete countertops, sink, custom cabinetry. SPA: half-in-ground 7-seater! Front yard: 283 sq.ft. covered front patio w/stamped/stained concrete. Paid Solar, Central AC & Heat, Modern electrical panels & wiring, New roof, Whole house vacuum, Whole house water filtration system w/non salt water softener. Additional Upgrades: Paid for solar system (7.3 kW system, installed 8/31/2023, annual electric bill = $246) Whole house water filtration system with non-salt water softener, Whole house fan, Central vacuum, Tankless gas water heater with instant hot recirculation at all faucets and showers, All new copper plumbing, All new electrical wiring w/2-new panels, New composition roof with warranty, New HVAC, AC and Heater. 2-Car Tandem Garage w/custom aluminum garage door with glass panels, bicycle hooks and storage rack installed in the ceiling, additional storage closet in the garage. Backyard: TV Room in-wall fireplace is hard-wired gas and has multi-color fires, ceiling heater, 3-Cool Cordless Sun-Shades ($5,000) installed for shade and cool. Lounge area has hard-line-gas firepit. Landscaping is lush and tropical. Side fence has tiered layers of succulents!
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| Jan 3, 2020 | Sold | ||
| Sold | |||
| Dec 5, 2019 | No longer available | - | |
| No longer available | |||
| Dec 4, 2019 | Listed by Spirit Realty Inc. | $775,000 | |
| Listed by Spirit Realty Inc. | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017