5916 Preservation Drive
About This Property
Enjoy the private, quiet pond frontage, fed by a natural spring and ideal for kayaking and stargazing. The backyard is an entertainer's paradise: step onto the low-maintenance new composite deck and transition to the lower level walkout, where you'll find a new flagstone fire pit and a relaxing new 6-person hot tub. Association wooded trails are stunning with the seasons and are accessible within 200 feet.
Peace of mind is provided by extensive recent upgrades: new roof, furnace, A/C, and water heater (all recently replaced). Inside, the kitchen has a new countertop and the convenience of an oversized 3-car garage. Also new premium flooring.
Water pond background is of association nature foliage, which will never be built on. Recent price reduction for update to Primary Bath and add a lower level bath.
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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 |
|---|---|---|---|
| May 15, 2026 | Sold | ||
| Sold | |||
| Apr 18, 2026 | In contract | - | |
| In contract | |||
| Mar 6, 2026 | Relisted | $595,000 | |
| Relisted | |||
| Feb 25, 2026 | In contract | - | |
| In contract | |||
| Jan 15, 2026 | Price Decreased |
$595,000
↓ $64K
(9.7%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017