43 Rex Drive
About This Property
The house itself has been through a real, comprehensive update rather than a cosmetic refresh. Start with the systems: a brand new roof going on in 2026, and a new HVAC system with natural gas backup, so both major mechanical components are essentially day one. New exterior paint finishes off the outside.
Inside, the main level's 970 square feet has newly finished floors and fresh paint throughout, plus an updated bathroom. The kitchen has been outfitted with a new stainless steel range, refrigerator, and microwave, all replaced together rather than piecemeal. The 570 square foot basement level has new sheetrock and new flooring. Out back, a large elevated deck spans the rear of the house and looks out over the backyard, plenty of room for a full outdoor dining setup or just a couple of chairs and a coffee in the morning.
1,540 total heated square feet, with three bedrooms and two full baths. A 400 square foot garage adds parking, storage, or workshop space, on a 0.34-acre lot.
This is a home where the big-ticket, expensive-to-defer items (roof, HVAC, exterior envelope) are already done, alongside a genuine interior refresh, on one of the quietest streets in the immediate area.
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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%.
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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.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017