638 S Manila Rd
About This Property
Power lines running along S Manila Road mean electrical infrastructure is already in the vicinity, simplifying the process of bringing utilities to a future build site - a meaningful advantage over truly off-grid rural parcels that can require extensive infrastructure investment from the ground up.
This property comes with no covenants, no restrictions, and no HOA, giving you the freedom to use the land on your own terms. Build the home you want, keep the animals you want, and enjoy the lifestyle you've been working toward - without a homeowners association telling you otherwise.
Please note that the seller will retain mineral rights, and there is currently no well or other improvements on the property, allowing a buyer to come in and develop to their own specifications and timeline.
The boundary lines shown in any photographs, aerial images, or maps associated with this listing are approximate and are intended for general reference purposes only. The information provided is believed to be reliable but is not guaranteed. Great Plains Land Company assumes no liability for errors or omissions. Buyers are encouraged to conduct their own due diligence.
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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 |
|---|---|---|---|
| Oct 9, 2026 | Sold | ||
| Sold | |||
| Sep 8, 2026 | In contract | - | |
| In contract | |||
| Aug 5, 2026 | Relisted | $544,500 | |
| Relisted | |||
| Jun 5, 2026 | In contract | - | |
| In contract | |||
| Jun 1, 2026 | Listed | $544,500 | |
| Listed | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017