40 Martha Street
About This Property
The main level features a sunlit living room and an open-concept kitchen equipped with an oversized countertop, stainless steel appliances, and a gas stove. The adjacent dining area includes sliding glass doors providing direct access to the deck.
The second floor comprises a primary bedroom with hardwood floors and ample natural light, a second bedroom, and a full bathroom. The third floor offers an additional large bedroom, while a fourth bedroom features an ensuite bathroom, providing versatile options for a guest suite or home office. The lower level includes a laundry room with an updated washer and dryer, alongside a den with a half bathroom.
Outdoor amenities include a private deck, brick patio, an above-ground pool, and a uniquely landscaped yard. Additional highlights of the property include gas heating and cooking, as well as recessed lighting.
The property is conveniently located near schools, shopping, parks, major highways, and transportation, presenting an excellent opportunity to reside in one of Long Island's most sought-after communities.
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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 |
|---|---|---|---|
| Oct 16, 2026 | Price Decreased |
$739,000
↓ $10K
(1.3%) | |
| Price Decreased | |||
| Aug 6, 2026 | Price Decreased |
$749,000
↓ $10K
(1.3%) | |
| Price Decreased | |||
| Jul 19, 2026 | Listed by Grand Home Properties LLC | $759,000 | |
| Listed by Grand Home Properties LLC | |||
| May 11, 2005 | Sold | ||
| Sold | |||
| Jul 22, 1997 | Sold | ||
| Sold | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017