844 Fabens Island Road
About This Property
Improvements include a hay barn/equipment cover, septic system, and electric and phone service at the property line--significantly reducing upfront development costs. The property features level topography, defined boundaries, and convenient access, making it well suited for continued agricultural production, livestock use, or potential rural homesite development (buyer to verify county requirements).
Ag exemption currently in place. Water rights convey with the sale.
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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 |
|---|---|---|---|
| Jul 30, 2026 | Sold | ||
| Sold | |||
| Mar 13, 2026 | In contract | - | |
| In contract | |||
| Mar 3, 2026 | Listed by Jason Mitchell Real Estate | $368,900 | |
| Listed by Jason Mitchell Real Estate | |||
| Mar 3, 2006 | Sold | ||
| Sold | |||
| Apr 19, 2005 | Listed by Century 21 The Edge | $108,000 | |
| Listed by Century 21 The Edge | |||
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LOOKING TO GET AWAY. HOW ABOUT 10 PLUS ACRES PLANTED WITH ALFALFA. ELECTRICITY AND TELEPONE ON PROPERTY. SEPTIC TANK INSTALLED PLUS, 700 GALLON WATER TANK PUMP STSTEM. PROPERTY HAS WATER RIGHTS.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017