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401 Point Royal Drive
About This Property
Welcome to 401 Point Royal Drive - a rare opportunity to own in one of the area's most desirable neighborhoods, within walking distance of Cullins Lake Pointe Elementary School. Combining luxury updates, oversized lot size, and a prime location, this home offers broad appeal for homeowners and investors alike.
The upstairs primary suite is intentionally positioned for privacy and features its own private balcony overlooking partial lake views, creating a peaceful retreat rarely found in homes at this price point. A second balcony also captures water views, adding to the home's distinctive character.
Downstairs, the open and inviting layout is designed for entertaining. With stylish finishes, updated luxury vinyl plank flooring, brand new lighting and thoughtfully remodeled living spaces throughout, this home oozes charm and charisma.
With no HOA restrictions, buyers seeking flexibility may appreciate the potential for a variety of ownership strategies, including primary residence, long-term rental, or furnished rental opportunities, subject to buyer due diligence and local regulations.
Conveniently located near Lake Ray Hubbard, shopping, dining, and major commuter routes, opportunities combining oversized lots, some water views, luxury updates, and Rockwall ISD are increasingly hard to find at this price point.
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Cap Rate Calculator
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 |
|---|---|---|---|
| Jul 8, 2026 | Sold | ||
| Sold | |||
| Jun 5, 2026 | In contract | - | |
| In contract | |||
| Jun 2, 2026 | Price Decreased |
$409,000
↓ $10K
(2.4%) | |
| Price Decreased | |||
| May 19, 2026 | Relisted | $419,000 | |
| Relisted | |||
| May 15, 2026 | In contract | - | |
| In contract | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017