723 Madrone Way
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 |
|---|---|---|---|
| Jan 9, 2026 | Sold | ||
| Sold | |||
| Dec 5, 2025 | In contract | - | |
| In contract | |||
| Nov 20, 2025 | Listed by Connect Real Estate Group | $605,000 | |
| Listed by Connect Real Estate Group | |||
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Brand-new, beautifully designed, and nestled in a true neighborhood setting—723 Madrone is the kind of home buyers dream of finding in Paradise. Located on the desirable west side of town, this home sits just down the street from the beloved Bille Park and offers an easy drive to Skyway for effortless commuting. This 4-bedroom, 2-bath, 2,173 sq. ft. home is part of a newly developed, stick-built street by American Dream Construction—six high-quality new builds that create a cohesive, community feel while protecting long-term value. Inside, you’ll find a thoughtfully designed split floor plan with bright, open living spaces. The dining room sits at the front of the home and flows seamlessly into the show-stopping kitchen—complete with a massive island, a Z-Line 6-burner gas range with hood vent, beautiful finishes, extensive storage, and a layout perfect for entertaining. The kitchen opens to the main living area, where large windows flood the home with natural light and a charming fireplace creates a warm focal point.
The primary suite is a true retreat, offering a spacious bedroom and a spa-inspired bathroom with dual vanities and linen storage, a soaking tub, a stunning walk-in shower with dual shower heads, a private toilet room, and a generous walk-in closet. On the opposite side of the home, you’ll find three additional well-sized bedrooms and a beautifully designed hall bath. Just off the kitchen is a convenient pantry, and entering from the 3-car garage brings you through a thoughtfully planned mud room/laundry room—the perfect space to drop shoes, coats, and backpacks without cluttering your living areas.
Outside, enjoy the curb appeal and carefully landscaped front yard, plus a 3-car garage and behind-the-gate RV parking with easy access to the expansive backyard. The backyard is a blank canvas—ready for a pool, garden, patio, or anything you can dream up. Built by American Dream Construction, one of Paradise’s most trusted local builders, this home is fully wildfire-prepared with 5 feet of defensible space, non-combustible materials, Class A roofing, ember-resistant Vulcan vents, and more. It also includes an extended 18-month fit & finish warranty and OWNED solar for energy efficiency and peace of mind. Make this stunning new build your home just in time for Christmas!
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| Jun 30, 2020 | Sold | ||
| Sold | |||
| Mar 11, 2020 | Listed by Table Mountain Realty, Inc. | $39,000 | |
| Listed by Table Mountain Realty, Inc. | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017