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4227 23RD PARKWAY
About This Property
In addition to the below-market financing opportunity, the home is equipped with solar panels designed to significantly offset electricity usage and monthly utility costs. The sellers report electric bills as low as approximately $1 during high-production summer months, depending on usage and solar production.
This home offers 4 bedrooms, 3 bathrooms, an updated kitchen with modern cabinetry and stone countertops, hardwood flooring, recessed lighting, a finished lower level, attached garage, two functional fireplaces, and a spacious backyard.
The lower level provides additional flexible living space and further improvement potential.
Conveniently located near Washington, DC, major commuter routes, shopping, dining, and public transportation.
Ask the listing agent about the 4.625% assumable mortgage opportunity and solar-panel details.
Mortgage assumption and solar transfer are subject to applicable lender, servicer, solar-provider, and buyer approval. Buyer to independently verify all financing, solar, utility, and transfer terms.
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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 18, 2026 | Price Decreased |
$380,000
↓ $10K
(2.6%) | |
| Price Decreased | |||
| Oct 2, 2026 | Listed by EXP Realty, LLC | $390,000 | |
| Listed by EXP Realty, LLC | |||
| Jun 7, 2022 | Sold | ||
| Sold | |||
| May 27, 2022 | No longer available | - | |
| No longer available | |||
| Apr 20, 2022 | In contract | - | |
| In contract | |||
Property Highlights
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About Hillcrest Heights
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017