46 Falcon Drive
About This Property
Set on an oversized .34-acre property, this expanded double-dormered Cape offers a flexible layout, generous living space, and the chance to create something truly special in a well-established neighborhood.
Inside, the home features 4 bedrooms, 2 full bathrooms, hardwood flooring on the main level, formal living and dining rooms, and a spacious eat-in kitchen with access to your backyard. A first-floor bedroom provides versatility for guests, a home office, or additional living needs, while the second floor includes three additional bedrooms plus a large bonus room with endless possibilities.
Freshly painted and offering solid structural value, the home includes gas heat with a newer forced-air heating system (2018), updated refrigerator and stove (2018), a full unfinished basement, and a roof approximately 10–15 years young.
For buyers looking to personalize a home over time, the kitchen and bathrooms offer an excellent opportunity to update to your own style while building equity in a sought-after Hauppauge location.
Step outside to an expansive backyard with plenty of room for entertaining, recreation, gardening, or future outdoor enhancements.
A commuter's delight and conveniently located near shopping, major roadways, parks, and everyday amenities, this property offers the rare combination of size, location, and long-term potential at an increasingly hard-to-find value in today's market.
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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 4, 2026 | Sold | ||
| Sold | |||
| Jul 18, 2026 | In contract | - | |
| In contract | |||
| Jun 25, 2026 | Withdrawn | - | |
| Withdrawn | |||
| Jun 24, 2026 | Listed by Douglas Elliman Real Estate | $725,000 | |
| Listed by Douglas Elliman Real Estate | |||
| May 8, 2026 | Relisted | $759,000 | |
| Relisted | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017