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5702-2 Penick DR
About This Property
The course, designed in 1949 by Perry Maxwell, was once the site of Austin Country Club and where Ben Crenshaw and Tom Kite trained. The home's architecture and the magnolia-lined street honor this legacy with elegance. Despite the peaceful, natural surroundings, the home is just minutes from downtown and the airport. From the backyard, enjoy watching deer on the fairways and hawks and owls overhead in a serene setting that feels worlds away.
Inside, the open-concept living space features soaring 14' ceilings, a gas fireplace, and 9" European oak plank flooring. The kitchen offers rift-cut oak cabinetry, dovetail drawers, a JennAir paneled appliance package, pot filler, and oversized pantry. Nearby, a private owner's planning desk connects to the large mud/laundry room. The primary suite is separated and private and pure luxury.
The home is fully gated and pre-wired for speakers, security, and electric shades throughout, including the primary suite. Additional features include an AV/coat closet under the stairs, decked attic storage over the oversized garage, and an electric-gated driveway. Upstairs, a game room with built-in desks opens to a turf walk-out patio offering breathtaking views of the course and seasonal downtown views. Secondary bedrooms are generously sized, and the Jack-and-Jill bath.
Out back, enjoy a 460 SF covered porch with fans and speakers overlooking the sparkling pool and expansive deck-ideal for relaxing or entertaining. 2/1 buy down available.
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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 |
|---|---|---|---|
| Jan 1, 2026 | No longer available | - | |
| No longer available | |||
| Dec 10, 2025 | Price Decreased |
$1,964,999
↓ $15K
(0.8%) | |
| Price Decreased | |||
| Nov 25, 2025 | Price Decreased |
$1,979,999
↓ $15K
(0.8%) | |
| Price Decreased | |||
| Nov 1, 2025 | Price Decreased |
$1,995,000
↓ $104K
(5%) | |
| Price Decreased | |||
| Sep 24, 2025 | Price Decreased |
$2,099,000
↓ $156K
(6.9%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017