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Russell Gardens 11021 Russell Gardens
40 Melbourne Road
Photo of 40 Melbourne Road
Sold on Aug 14, 2023

35

Map

Photo of 40 Melbourne Road
Photo of 40 Melbourne Road
$1,580,000
● House - Off Market

40 Melbourne Road

North Hempstead, NY 11021
bedrooms
5 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
3,825 Ft²
$1,689,419
RealtyHop Estimate
0.56%
Since Sep 1, 2023
NY-New York
Primary Model

About This Property

Great Neck. Spacious & Bright 5Br 3.5Bath Split Level on a 0.58 acre Lot in The Village of Russell Gardens. Great Layout & Flow. Hardwood Floor Throughout. Foyer, Living Rm w/Fireplace, Formal Dining Rm, Den, Eat-In Kitchen, Laundry Rm, Master Bedroom, Master Bath w/Jacuzzi & Sauna plus 3 Bedrooms, Hallway Bath & Powder Rm on the Main Level. Family Rm, Bedroom, Office w/OSE, Full Bth, 2-Car Garage on the Lower Level. Full Waterproof Basement, Partially Finished, Play Rm, Plenty of Storage Space, Separate Entrance. Gas Cooking & Heating, Central AC, Central Vacuum, Pella Windows. 3 Year Old Power Generator. Beautiful Backyard. Wide Driveway Leads to Garage & Roundabout Driveway on Front. Russell Gardens Village Park, Tennis Courts & Pool. Russell Gardens Association Maintenance Fee $1,400/Year. Zoned Lakeville School. Great Neck South School District. School Bus Runs on the Street. 0.2mi to n20, n21, n25, n26 buses. 0.5mi to LIRR Station., Additional information: Appearance:Excellent
Unit Size
3,825 Ft²
Days on Market
-
Land Size
0.58 acres
Price per sqft
$439
Property Type
House
Property Taxes
$3,036
HOA Dues
-
Year Built
1963

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

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.

Last updated: 2 years ago (OneKey MLS #KEYL3463448)

Price History

Date / Event Date Event Price
Aug 14, 2023 Sold
Premium
Sold
May 23, 2023 In contract -
In contract
Apr 18, 2023 Price Decreased $1,680,000
↓ $100K (5.6%)
Price Decreased
Mar 29, 2023 Relisted $1,780,000
Relisted
Mar 18, 2023 In contract -
In contract
Show More

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1963
  • Effective Year Built: 1963
  • Total Rooms: 7
  • Bedroom Count: 0
  • Bathroom Count: 4
  • Full Bathrooms: 3
  • Partial Bathrooms: 4
  • Bathroom Plumbing Fixtures: 3
  • Building Condition: 3
  • Building Quality: 5
  • Construction Type: 6
  • Building Style: 41
  • Exterior Walls Type: 17
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 6
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 3
  • Basement Area: 1,320
  • Garage Type: 17
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 7
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 25,308
  • Total Building Area: 3,825
  • Building Area: 3,825
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 3
  • Heated Square Feet: 3,825
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 1
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000581
  • Standard Land Use Code: 1001
  • County Land Use Code: 2100
  • Legal Description 1: TOWN #2 SCH DIST 007

Neighborhood

  • School District Name: Great Neck Union Free School District
  • School Tax School District: 007
  • School Tax District Code 2: RG
  • Census Tract: 300600

Geography

  • District: 282247
  • Section: 2
  • Parcel: 02-359-00-0013
  • Block: 359
  • Lot: 13
  • Municipality: RUSSELL GARDENS
  • Latitude: 40.7811
  • Longitude: -73.7212

    Address

  • Full Address: 40 Melbourne Rd
  • Address - House Number: 40
  • Address - Street Name: Melbourne
  • Address - Suffix Type: Rd
  • State: NY
  • City Name: Great Neck
  • Carrier Code: C029
  • 4-Digit Zip Code: 4638
  • Zip Code: 11021

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $3,083,086
  • Tax Rate Code Area: 756

    Appraisal Valuation

  • Standard Deviation: 0.0932
  • Valuation Date: Aug 23, 2023
  • Confidence Score: 91
  • Final Value: 1,610,910
  • High Value: 1,761,156
  • Low Value: 1,460,664

    Market Valuation

  • Market Total Value: $1,563,000

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,563
  • Assessed Land Value: $1,099
  • Assessed Improvements Value: $464

    Sales

  • Current Sale Contract Date: Aug 14, 2023
  • Current Sale Recording Date: Aug 22, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 12
  • Current Sale Input Document Number: 2023-49479
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Great Neck

Stats & Trends

Median Asking:

$1,298,000

Sale Price/ft²

$654

Below Asking

0.01%

Average Days on Market

101

Average Home Size

2867 ft²

Average Home Age

65.1 years

Currently For Sale

141 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 27 Upland Road, Great Neck, NY, 11020

$5,800 /mo

  • 3 Beds
  • 2 Baths
  • 1,832 ft²
27 Upland Road, Great Neck, NY, 11020 Listing by Christine C. Seo SFR
Unit for rent at 218 Middle Neck Road, Great Neck, NY, 11021

$5,900 /mo

  • 2 Beds
  • 2 Baths
  • 1,189 ft²
218 Middle Neck Road #313, Great Neck, NY, 11021 Listing by Debbie Menjivar
Unit for rent at 1058 Plandome Road, Manhasset, NY, 11030

$5,500 /mo

  • 2 Beds
  • 2 Baths
  • 1,383 ft²
1058 Plandome Road, Manhasset, NY, 11030 Listing by Irene Rallis

Rentals Near You

Click here to view more rentals in the neighborhood.
OneKey

Last Updated: 2 years ago
Data Source: OneKey MLS

Frequently Asked Questions

When was property at 40 Melbourne Road built and last sold?
The property at 40 Melbourne Road was built in 1963 and last sold on Aug 14, 2023 for $1,580,000.
How much is this home worth?
The estimated value of the home located at 40 Melbourne Road is $0.
What are some comparable homes to 40 Melbourne Road?
There are currently no comparable homes to 40 Melbourne Road.
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