406 Lake Street
About This Property
Situated in a growing area just south of Dallas, Red Oak offers a balance of small-town charm with big-city convenience. You'll enjoy nearby parks like Pearson Park and Watkins Park, perfect for outdoor activities, trails, and picnics. The community is also close to schools, local eateries, and grocery stores, while major retailers and entertainment options are just a short drive away in Waxahachie or Cedar Hill. For commuters, quick access to I-35E makes travel to Downtown Dallas or surrounding cities simple and efficient.
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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 29, 2025 | Sold | ||
| Sold | |||
| Sep 24, 2025 | In contract | - | |
| In contract | |||
| Sep 11, 2025 | Listed by Keller Williams Realty | $325,000 | |
| Listed by Keller Williams Realty | |||
| Jul 22, 2025 | Temporarily off market | - | |
| Temporarily off market | |||
| Jul 12, 2025 | In contract | - | |
| In contract | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017