501 Elm Grove Trail
About This Property
The large kitchen features granite countertops, dark cabinetry, and a center island, and opens seamlessly to the living room-perfect for both everyday living and entertaining. The living area is anchored by a gas-start fireplace, creating a warm and inviting space. Enjoy both a formal dining area and a breakfast nook, offering flexibility for hosting and daily meals.
Upstairs offers a versatile flex space with a closet and full bathroom, making it ideal for a game room, media room, or optional fourth bedroom. New roof in 2023. Conveniently located with easy access to Highway 80 and I-20, making commuting to Forney, Rockwall, Mesquite, and Dallas a breeze. Thoughtful design, ample living areas, and a prime corner lot make this home a standout opportunity in a sought-after neighborhood.
All information deemed reliable but not guaranteed. Buyers or buyers' agents to verify all information including square footage, HOA, taxes, and schools.
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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 |
|---|---|---|---|
| Mar 20, 2026 | Sold | ||
| Sold | |||
| Feb 28, 2026 | In contract | - | |
| In contract | |||
| Feb 24, 2026 | Price Decreased |
$344,900
↓ $100
(0%) | |
| Price Decreased | |||
| Feb 15, 2026 | Price Decreased |
$345,000
↓ $12K
(3.4%) | |
| Price Decreased | |||
| Jan 31, 2026 | Price Decreased |
$357,000
↓ $2K
(0.6%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017