656 Enchanted Isles Drive
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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 |
|---|---|---|---|
| Jul 10, 2026 | Sold | ||
| Sold | |||
| May 17, 2026 | In contract | - | |
| In contract | |||
| Feb 6, 2026 | Listed by Allie Beth Allman & Assoc. | $995,000 | |
| Listed by Allie Beth Allman & Assoc. | |||
| Oct 21, 2021 | Sold | ||
| Sold | |||
| May 31, 2021 | Listed by Mission Real Estate Group | $899,000 | |
| Listed by Mission Real Estate Group | |||
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656 Enchanted Isle Drive, Payne Springs, TX 75156 – 1.5 lots -- Land only – Due to recent fire. East Cedar Creek Water and Sewer already on property … Ready for someone to build their dream home. Located in one of Cedar Creek Lake's most sought after gated communities, this property offers deep water and fantastic water views! Located on the third island on south side providing calmer water in the summer for swimming, fishing off the boat dock and docking watercraft in boathouse. Enjoy beautiful sunrises from your future home. Nice boathouse with covered deck, marble entertainment island, boat slip, and 3 PWC deck lift. Steel Retaining wall and concrete deck already exist.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017