6490 Rainbow Heights Road
About This Property
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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 |
|---|---|---|---|
| Feb 6, 2026 | Sold | ||
| Sold | |||
| Dec 11, 2025 | In contract | - | |
| In contract | |||
| Nov 12, 2025 | Listed by Sunshine Properties RealEstate | $1,349,900 | |
| Listed by Sunshine Properties RealEstate | |||
| Sep 24, 2025 | Listed | $1,399,000 | |
| Listed | |||
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Amazing 4.26 acre OCEAN view gated property with a 2900 sq ft (3/3) solar powered home, pool, barn, and more. This property is unique to area as the acreage is ALL usable and flat or nearly so making it deal for equestrian/animal lovers (current set up) or any other passions you may have (pickleball and tennis courts, gardening, etc). The home has somewhat of a lodge feel, beautiful painted/leaded glass features, and has three bedrooms and three bathrooms, along with a separate large laundry room and attached two car garage. Two stone fireplaces! The master retreat is large and could easily function as an office (with possible conversion to 4th bedroom), and also includes a separate freestanding bath retreat that makes you feel like you are bathing in nature. Stunning views from each room bring the outside in. Moving outside, there are so many areas you just must walk the property. A barn and corrals, pond (nature filled during rain), detached garage/workshop, animal pens, a gathering gazebo area perfect for parties, the list goes on! So easy to meander around this acreage. Excellent potential for event hosting. A one bedroom mobile home is on the property and is included (considered personal property that will convey) - currently rented for $1500/month. View all pictures to get best feel for property - but definitely best to see in person.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017