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400,401 Third Street
About This Property
House 1: Unique 2,885 sq. ft. steel-constructed home featuring 4 bedrooms, 3 full baths, oversized rooms, walk in closets, spacious kitchen, sunroom, and an incredible indoor pool and spillover spa room. Home is all electric except for the pool equipment. All rooms are in seperate spaces and features their own bathrooms.
House 2: Versatile barndominium with 4 rooms currently used as bedrooms, 3 full baths, walk-in closets, attached shop, plus an additional detached multi-bay shop, and hay barn. Also includes gun room or safe room.
Additional improvements include a 1,600 sq. ft. shop with 12-foot roll-up doors, living quarters, and a two-car lift. Property is on city water and city sewer and features ATV trails, abundant wildlife, hunting, fishing, fruit trees, mature magnolias, and exceptional privacy.
Conveniently located just minutes from Atlanta, 20 minutes to Texarkana, and 45 minutes to Shreveport. Four city streets dead-end into the property, creating excellent subdivision or future development potential. A truly one-of-a-kind property with endless possibilities.
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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 |
|---|---|---|---|
| Jun 23, 2026 | Listed by RE/MAX Trinity | $1,200,000 | |
| Listed by RE/MAX Trinity | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017