551 Monroe Avenue
About This Property
Down the hall on the main level, you will find three well-sized bedrooms, all serviced by a fully renovated bathroom featuring a tub shower and a beautifully designed tile finish.
The lower level offers exceptional additional living space with an expansive family room and a fully functional kitchenette complete with a wet bar, refrigerator, gas stove hookup, stone countertops, and generous cabinet storage. Sliding glass doors from this level lead out to a shaded patio beneath the deck, providing another inviting outdoor area to relax or entertain. This level also features two additional bedrooms and a fully renovated bathroom with a stunning shower stall. A separate laundry area with its own access adds to the home's practicality.
Designed with flexibility in mind, the lower level is ideal for multigenerational living or an in-law suite, offering privacy and comfort with a sliding barn door separating the spaces. The expansive backyard offers plenty of room for outdoor enjoyment and includes a large shed, perfect for additional storage, hobbies, or workspace. This home combines space, functionality, and modern updates, all set on a generous lot in a desirable Whiting 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 |
|---|---|---|---|
| Jun 24, 2026 | Sold | ||
| Sold | |||
| Apr 25, 2026 | In contract | - | |
| In contract | |||
| Apr 2, 2026 | Listed by RE/MAX Central | $549,900 | |
| Listed by RE/MAX Central | |||
| Sep 23, 2022 | Sold | ||
| Sold | |||
| May 11, 2022 | Listed by Keller Williams Realty Ocean Living | $439,000 | |
| Listed by Keller Williams Realty Ocean Living | |||
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Desirable, peaceful Roosevelt City location. Enter this updated Bi-Level and choose which area to enjoy. This home features tasteful updates (2015) and storage galore. Open floor plan on the upper level which features a kitchen, dining and living space. It is accompanied by three bedrooms and a full bath. The lower level features include two additional bedrooms, large full bath, laundry room and an entertainers dream space. This home provides all of this along with an acre of wide open space just waiting for your imagination. Once block from the park with tennis courts, baseball field, playground, and nature trails. Within one mile of Harry Wright Lake that provides a beach and swimming
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017