21
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48975 Fairview Road
About This Property
Seller Financing is available
At the heart of the property is a in-ground 25-foot by 15-foot pool and spa, finished with high-end pebble rock plaster. Although currently drained due to nonuse, it offers future potential for recreation and luxury. Adding to the uniqueness of this property is a large 0.4-acre manmade lake, also currently drained, which once served as a beautiful focal point. An additional smaller lake once graced one of the other homes on the land, now drained as well, offering further possibilities for restoration or redevelopment.
What truly sets this property apart is its impressive water infrastructure. There are six private water wells on-site, supporting a brand-new irrigation system throughout the property. With 150 acre-feet of Base Annual Production (BAP) water rights included, this land is well-suited for agricultural use, ranching, or future expansion that depends on reliable water access.
Whether you're looking to build, farm, or hold for long-term value, this one-of-a-kind opportunity in Newberry Springs provides space, resources, and flexibility that are increasingly hard to find. With water, land, and vision, the possibilities here are endless.
Seller Financing is available
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Cap Rate Calculator
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 12, 2026 | Relisted | $888,000 | |
| Relisted | |||
| Jul 15, 2026 | In contract | - | |
| In contract | |||
| May 13, 2026 | Price Increased |
$888,000
↑ $60K
(7.3%) | |
| Price Increased | |||
| Mar 24, 2026 | Price Decreased |
$828,000
↓ $40K
(4.6%) | |
| Price Decreased | |||
| Mar 4, 2026 | Price Decreased |
$868,000
↓ $20K
(2.3%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017