940 Cheyenne
About This Property
The current owner began a thoughtful renovation, but a change in circumstances now creates a fantastic opportunity for the next buyer to finish the remodel and customize the home to their own style and vision.
Over the past 18 months, the home has seen extensive upgrades, including a new Lennox A/C and heat pump, new ductwork, whole-house fan, insulated roof and walls, Leviton Wi-Fi controlled switches, newer 220-amp electrical panel, tankless water heater, water pressure regulator, replaced skylights, new gutters front and back, fresh exterior paint, illuminated house numbers, and a high-end front door with dual retractable screens.
The backyard features a swimming pool with a brand-new liner, pump, and filter. The property also includes leased solar and two Tesla battery packs, adding energy efficiency and backup power.
This home has many quality improvements already in place, with room to add value, and the chance to make it your own!
*As you can see, the home sits fairly close to the 73Fwy. There is a 40' wide elevated greenbelt between the home and a very tall sound wall which deadens the noise substantially while the prevailing winds blow from west to east, directing particulates and much of the sound inland*
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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 |
|---|---|---|---|
| Apr 2, 2026 | Sold | ||
| Sold | |||
| Mar 12, 2026 | In contract | - | |
| In contract | |||
| Feb 16, 2026 | Listed by Coldwell Banker Realty | $1,165,000 | |
| Listed by Coldwell Banker Realty | |||
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About Costa Mesa
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017