118 Summit Drive
About This Property
A rare opportunity to own one of the most desirable lot layouts in The Estates-this nearly perfect square 1-acre property offers unmatched versatility for a luxury custom home. The rear of the property opens to a reserve, creating a quiet, uninterrupted natural backdrop that enhances both privacy and long-term appeal. Close to the entrance, community clubhouse and stocked lake. With plenty of space for a pool, guest casita, gardens, or workshop, this homesite is designed for those who want to build without compromise. Enjoy underground electric, central water, and fiber internet in a scenic, wooded community just minutes from I-45 and the amenities of The Woodlands and Lake Conroe.
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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 30, 2026 | Listed by Grand Ranch Properties | $144,900 | |
| Listed by Grand Ranch Properties | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017