40 & 41 Falcon Crest Loop
About This Property
The views from these two adjoining lots - look down into Maggie Valley and across the ranges towards the Great Smoky Mountains. Lightly restricted property allows for one or two homes on these two lots and does not require a minimum Square footage but does have an Architectural review board.
The septic permit has expired but was set up for 3 bedrooms.
The houses may be small or large... Roads are paved most of the way up to the lots but the last few yards are gavel. Driveway is rough gravel with the bigger base stone installed. The driveway could be designed to access both lots..
This area is surrounded by the Maggie Sanitary conservation land which extends up to the top of the mountain then adjoins additional conservation and Blue Ridge Parkway lands... and has beautiful hiking on the roads and up to the ridgetop.
The neighborhood is high elevation with cool summer temperatures and a special peacefulness found only at the higher elevations. This is a beautiful area to build a second home with big windows to take in the views. Vacation Rentals are allowed.
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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 |
|---|---|---|---|
| Aug 23, 2026 | In contract | - | |
| In contract | |||
| Sep 9, 2025 | Listed by Better Homes and Gardens Real Estate Heritage | $89,900 | |
| Listed by Better Homes and Gardens Real Estate Heritage | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017