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505 OAK DRIVE
About This Property
Inside, you'll find a spacious living area filled with natural light, easy-care tile and laminate flooring, and a functional eat-in kitchen with plenty of potential to make it your own. The primary bedroom includes a private half bath, while two additional bedrooms provide flexibility for family, guests, or a home office.
A converted garage adds valuable bonus space that can serve as a workshop, creative studio, business workspace, or hobby room. Outdoors, a screened patio overlooks the fenced backyard, creating a great setting for entertaining, gardening, pets, or relaxing in the shade. A storage shed provides additional space for tools, equipment, and outdoor essentials.
With no HOA restrictions, there's room for your boat, motorcycle, or other recreational vehicles. Whether you're purchasing your first home, looking to downsize, or seeking a seasonal retreat, this property offers versatility, value, and a desirable location.
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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 |
|---|---|---|---|
| Sep 11, 2026 | Price Decreased |
$228,000
↓ $7K
(3%) | |
| Price Decreased | |||
| Sep 10, 2026 | Price Decreased |
$235,000
↓ $5K
(2.1%) | |
| Price Decreased | |||
| Aug 7, 2026 | Price Decreased |
$240,000
↓ $5K
(2%) | |
| Price Decreased | |||
| Jun 25, 2026 | Listed by MARK SPAIN REAL ESTATE | $245,000 | |
| Listed by MARK SPAIN REAL ESTATE | |||
| Aug 21, 2025 | Price Decreased |
$272,900
↓ $5K
(1.8%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017