16
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508 Clay Street
About This Property
Additionally, the design allows for expansion-the opportunity to add a second story could nearly double the living space to approximately 2,400 square feet, with only the staircase left to complete. The owners are even leaving behind real wood trim materials to assist in finishing the stair area.
Outside, a large backyard offers ample space, and to the side, the property continues with a fenced-in yard that includes a small shop for convenience and security. A storm shelter is already installed for added safety. For those in need of extra covered storage, the property also features an RV/motorhome-height carport located next to the home, perfect for storing RVs, boats, trailers, or additional equipment.
This property represents an investment in both lifestyle and long-term potential. Adding even more charm and value, the land is rich with wild muscadines, grapevines, and perennial flowers surrounding the house. This unique combination of usable land, expansion potential, natural beauty, and existing improvements makes this property an exceptional opportunity for homeowners, investors, or anyone looking to create something truly special.
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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 |
|---|---|---|---|
| Sep 12, 2026 | Price Decreased |
$306,900
↓ $5K
(1.6%) | |
| Price Decreased | |||
| Aug 28, 2026 | Price Decreased |
$311,900
↓ $3K
(1%) | |
| Price Decreased | |||
| Aug 20, 2026 | Price Decreased |
$314,900
↓ $3K
(1%) | |
| Price Decreased | |||
| Aug 18, 2026 | Price Decreased |
$318,000
↓ $2K
(0.5%) | |
| Price Decreased | |||
| Jul 15, 2026 | Price Decreased |
$319,500
↓ $6K
(1.7%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017