505 Southern Drive
About This Property
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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 |
|---|---|---|---|
| Oct 7, 2026 | Listed by Keller Williams Realty DPR | $275,000 | |
| Listed by Keller Williams Realty DPR | |||
| Dec 30, 2024 | Sold | ||
| Sold | |||
| Dec 12, 2024 | In contract | - | |
| In contract | |||
| Nov 14, 2024 | Listed by Easy Life Realty | $318,000 | |
| Listed by Easy Life Realty | |||
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Welcome to 505 Southern, a stunning new construction home located in a prime Sherman location, just minutes away from shopping and amenities. This thoughtfully designed 1,414 square foot home offers modern conveniences and comfortable living, perfect if you are looking for low-maintenance. Discover a spacious open-concept layout with high-quality finishes throughout. The kitchen is a chef’s dream, featuring stainless steel appliances, a large walk-in pantry, and ample counter space, making meal prep a breeze. The living area boasts an elegant electric fireplace, adding warmth and ambiance to the space. Energy efficiency is a key feature of this home, with spray foam insulation to keep your utility costs low and your comfort level high year-round. The backyard will provide privacy, with a new privacy fence to be installed. Don’t miss out on this exceptional opportunity to own a brand-new home in one of Sherman’s most desirable areas! Call your favorite REALTOR®.
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About Sherman
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017