5545 Drake Way
About This Property
Step inside to an inviting open-concept floor plan where the breathtaking kitchen immediately steals the show. Anchored by an oversized center island, this space is perfect for entertaining and everyday living. Designer lighting, beautiful tile work, soft-close cabinetry, granite countertops, and premium finishes create a timeless, elevated feel throughout. Every detail has been thoughtfully selected to deliver both style and functionality.
The spacious living areas flow seamlessly together, while five generously sized bedrooms provide room for everyone. Downstairs, the professionally finished basement features impressive 9-foot ceilings and a stunning wet bar, creating the perfect space for entertaining, movie nights, or hosting guests.
Outside, enjoy a fully landscaped, fully fenced backyard complete with a sprinkler system, offering privacy and low-maintenance living. Brand-new blinds have been installed throughout the home, making it truly turnkey.
Built with today's buyer in mind, additional highlights include a tankless water heater, quality construction, designer finishes throughout, and a spacious lot just a short walk to the neighborhood park.
Homes offering this level of finish, space, and value-without HOA dues or metro district taxes-are exceptionally rare. This is a home that must be experienced in person.
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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 15, 2026 | In contract | - | |
| In contract | |||
| Jul 30, 2026 | Price Decreased |
$730,000
↓ $20K
(2.7%) | |
| Price Decreased | |||
| Jul 19, 2026 | Price Decreased |
$750,000
↓ $25K
(3.2%) | |
| Price Decreased | |||
| Jul 8, 2026 | Listed | $775,000 | |
| Listed | |||
| Mar 2, 2023 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017