42 Colonial Avenue
About This Property
The lower level expands the living space with a partially finished basement featuring wood-look plank flooring, recessed lighting, and recreation or storage room. It includes a second half bathroom with a wood-style vanity, countertop, and dark faucet. A standout feature is the wine cellar and tasting room, distinguished by dark exposed ceiling beams and grey tile flooring. This entertaining enclave boasts wall-mounted wooden shelving, a prep sink vanity, and an under-counter wine refrigerator. Central to the room is a tasting island with a dark top and built-in wine racks underneath. A seating nook accommodates a high-top table for gatherings.
Stepping outside, the exterior features a covered front porch with a wood-paneled ceiling, fans, wood decking, and pillars. A dormer window accents the roofline alongside a brick chimney. A stamped concrete walkway leads to the front steps and wraps around the home, finished with gutters and downspouts. In the rear, the walkway opens onto a stamped concrete patio for outdoor dining and grilling, overlooking a lawn surrounded by trees. Completing the property is a paved driveway offering parking that leads to a detached garage.
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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 |
|---|---|---|---|
| Sep 9, 2026 | Listed by Keller Williams Realty | $794,999 | |
| Listed by Keller Williams Realty | |||
| Aug 27, 2026 | No longer available | - | |
| No longer available | |||
| Aug 23, 2026 | Relisted | $849,999 | |
| Relisted | |||
| Aug 21, 2026 | In contract | - | |
| In contract | |||
| Jul 30, 2026 | Price Decreased |
$849,999
↓ $25K
(2.9%) | |
| Price Decreased | |||
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About Warwick
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017