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505 Oak Drive
About This Property
Situated in Galveston County, the home combines the comfort of suburban living with convenient access to major roads, shopping, dining, and highly acclaimed Friendswood ISD schools. The property provides flexibility for a variety of buyers, whether you're looking to move in, update to your personal style, or add long-term value.
With its prime location and strong neighborhood appeal, this home presents excellent potential in a highly sought-after area.
In addition to the main residence, the property features a 40x60 airplane hangar-ideal for RV or boat storage, a workshop, car collection, or home-based business. Endless possibilities for hobbyists or those needing substantial covered space.
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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 |
|---|---|---|---|
| May 15, 2026 | Sold | ||
| Sold | |||
| May 4, 2026 | In contract | - | |
| In contract | |||
| Apr 28, 2026 | Listed by Realty Right | $500,000 | |
| Listed by Realty Right | |||
| Apr 11, 2026 | Price Decreased |
$500,000
↓ $100K
(16.7%) | |
| Price Decreased | |||
| Jul 8, 2025 | Listed by Realty Right | $600,000 | |
| Listed by Realty Right | |||
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Welcome to 505 Oak Drive in the heart of Friendswood’s prestigious Polly Ranch Estates Rep. This expansive lot offers an ideal opportunity to build your dream home or invest in a prime location with no HOA and a serene, established neighborhood feel. Nestled in a lush, tree-lined setting within Galveston County, the property combines the tranquility of suburban living with quick access to major roads, shopping, dining, and highly acclaimed Friendswood ISD schools. Whether you're looking to build new or explore renovation opportunities, this lot offers endless potential in a desirable location.
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Property Highlights
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About Polly Ranch Estates
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017