48 Ormond Street
About This Property
Rare opportunity to acquire a 1.04- acre parcel in a highly desirable Dix Hills location. Property is being sold as is and offers strong potential for knockdown and new construction, subject to all required permits and approvals. The expansive lot size is well suited for a custom built residence of approximately 6,000- 8,000 square feet, with room for additional amenities such as a pool and outdoor living space ( Buyer to Verify). Surrounded by established luxury homes, this property presents an excellent opportunity for builders and developers!
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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 |
|---|---|---|---|
| Jan 25, 2026 | Price Increased |
$998,000
↑ $100K
(11.1%) | |
| Price Increased | |||
| Jan 20, 2026 | Listed by Signature Premier Properties | $898,000 | |
| Listed by Signature Premier Properties | |||
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About Dix Hills
Similar Homes for Sale
Currently no similar homes aroundNearby Rentals
$6,500 /mo
- 4 Beds
- 2 Baths
- 1,897 ft²
$3,200 /mo
- 2 Beds
- 1 Bath
- 850 ft²
Data Source: OneKey MLS
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Address: 335 Madison Avenue, New York, NY 10017