471 Palo Verde Drive
About This Property
The spacious first floor features a desirable primary suite with a renovated en-suite bath, along with a dedicated office/den, generous living spaces, and abundant natural light. Soaring ceilings and neutral finishes create a bright and inviting atmosphere. The thoughtfully designed kitchen features an eat-in area, island, granite countertops, and stone tile backsplash. Additional highlights include impact-resistant windows and doors, a wood-burning fireplace, tile flooring in the main living areas, and Canadian maple hardwood flooring in the kitchen and primary bedroom. Plantation shutters and ample storage throughout add to the home's functionality and appeal.
Upstairs, an open loft provides additional living or flex space and is complemented by two bedrooms, a full bath, and a separate bonus/storage room with air conditioning. A spacious pavered pool deck overlooks the long lake view and provides an ideal setting for outdoor entertaining.
Notable improvements include a new roof in 2019, A/C replaced in 2019, and impact glass installed in 2022. The two-car garage features epoxy flooring and additional storage.
Palo Verde is a charming enclave of just 43 single-family homes with low quarterly HOA fees, located within The Vineyards.
Vineyards Country Club membership is optional and offers a private club lifestyle with 36 holes of championship golf, 12 Har-Tru tennis courts, pickleball and bocce, a resort-style pool and spa, and an outdoor bar area. The club's newer Wellness & Spa facility features a fitness center, cafe, halotherapy salt room, massage and salon services, and a saltwater lap pool.
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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.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 28, 2026 | Listed by John R Wood Properties | $1,250,000 | |
| Listed by John R Wood Properties | |||
| Jun 10, 1998 | Sold | ||
| Sold | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017