40647 Melrose Drive
About This Property
Retreat to the spacious primary suite at day's end, offering a tranquil haven for relaxation. Beyond your doorstep, indulge in resort-style amenities including a sparkling pool, rejuvenating spa, and vibrant playground, perfect for family bonding and recreation. Located within the award-winning Temecula Valley Unified School District, Sultana at Heirloom Farms offers not only a beautiful home but also access to top-tier education.
Home is thoughtfully built with innovative, energy-efficient features, PAID OFF SOLAR, ensuring savings on utility bills without compromising comfort. Embrace outdoor living with the community's inviting outdoor spaces while enjoying peace of mind in a home designed for better health and sustainability. Make the move to Sultana at Heirloom Farms and experience a lifestyle where luxury, convenience, and eco-consciousness converge.
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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 |
|---|---|---|---|
| Sep 30, 2024 | Sold | ||
| Sold | |||
| Jun 8, 2024 | Listed by Coldwell Banker Realty-Dana Point/San Clemente | $526,000 | |
| Listed by Coldwell Banker Realty-Dana Point/San Clemente | |||
Property Highlights
Comparables
Status
Price/ft²
Listed On
Sold On
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
06/08/2024
| |
2 Bed
|
3 Bath
|
1387 ft²
|
$526,000
2 Bed
3 Bath
1387 ft²
|
$540,000
+2.66%
09/30/2024
|
Kyla Jackson
Coldwell Banker Realty-Dana Point/San Clemente
|
Building Info
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017