498 Rhode Island Avenue
About This Property
The kitchen was completely renovated in 2023, showcasing modern finishes, recessed lighting and designed for seamless entertaining. The open family room and additional bonus room create a warm, inviting atmosphere-perfect for gathering, relaxing, or creating your dream home office or playroom. Step outside and imagine the possibilities - there's plenty of room in the yard for a pool and outdoor entertaining. Whether you're hosting summer BBQs or creating your private backyard oasis, this property is truly limitless! Additional features include, newer flooring and windows, HVAC, Energy-efficient spray foam insulation in all three attic spaces and ample storage for all your needs. If you're looking for a move-in ready home with space to entertain, grow, and enjoy, this is the one you've been waiting for! Close proximity to area parks and marinas, restaurants, local amenities, top-rated schools, major highways and Point Pleasant beaches. Schedule your appointment today!
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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 |
|---|---|---|---|
| Aug 15, 2025 | Sold | ||
| Sold | |||
| Jul 29, 2025 | In contract | - | |
| In contract | |||
| Jun 23, 2025 | Price Decreased |
$549,900
↓ $10K
(1.8%) | |
| Price Decreased | |||
| May 15, 2025 | Relisted | $559,900 | |
| Relisted | |||
| May 8, 2025 | In contract | - | |
| In contract | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017