12 Elder Lane
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 |
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| Dec 1, 2023 | No longer available | - | |
| No longer available | |||
| Nov 28, 2023 | Sold | ||
| Sold | |||
| Oct 27, 2023 | Listed by Berkshire Hathaway HomeServices Georgia Properties | $3,395,000 | |
| Listed by Berkshire Hathaway HomeServices Georgia Properties | |||
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Nestled along the pristine waters of Lake Burton, this FEE SIMPLE lakeside retreat offers an unparalleled opportunity to immerse yourself in the tranquil beauty of the North Georgia Mountains. Desirably located on the corner of Murray Cove Rd and Elder Ln, this spacious home offers 6 bedrooms and 6 bathrooms---ample room for growing families AND guests! The heart of the home is the open-concept living area, adorned with soaring ceilings, a stacked stone fireplace, and expansive windows that flood the space with natural light. The gourmet kitchen is a culinary enthusiast's dream, featuring a generous island that is perfect for entertaining guests. The front of the property is anchored by an enclosed porch and wet bar to sit and enjoy lakeside living at its finest. Enjoy a flat walk from the home to the lakefront, which features one-third of an acre of sprawling lawn and a two-story, two-stall boathouse with ample dock space---the ideal setup for swimming, boating, fishing, and all beloved water activities! This property features the best of both worlds: a backdrop to host unforgettable gatherings as well as a retreat to simply unwind in the peaceful ambiance of the outdoors. The backside of the property even includes a pavilion complete with an outdoor television, ample dining space, a hot tub, and a well-landscaped backyard. The master suite is a haven of relaxation with vaulted ceilings, a spa-like bathroom, and ample closet space, which the remaining 5 bedrooms and 5 bathrooms give all guests plenty of space to relax and rejuvenate after a day of fun in the sun. 12 Elder Ln is more than just a home; it is an invitation to embrace coveted Lake Burton while making memories with family and friends. Its convenient location offers easy access to the vibrant town of Clayton, renowned for its charming shops, award-winning dining establishments, and attractions for outdoor enthusiasts. Do NOT miss the opportunity to own this exquisite lakefront sanctuary, where every day feels like a vacation. Schedule your private tour today and discover the epitome of lakeside living on Lake Burton in Rabun County, GA.
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| Jul 12, 2022 | No longer available | - | |
| No longer available | |||
| May 31, 2022 | Listed by Harry Norman REALTORS | $3,195,000 | |
| Listed by Harry Norman REALTORS | |||
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FEE SIMPLE gem in the heart of Murray Cove that sleeps 20+! Roomy 6 BR/6 BA custom built home with two bonus rooms for additional living and sleeping space. Welcoming entryway and screened-in porch lead into the sundrenched two-story vaulted great room with pecky cypress ceilings and hickory floors, anchored with a stacked stone island that showcases the entertainer’s kitchen and a stacked stone fireplace that summons endless nights around the hearth. Master on main features the vaulted pecky cypress ceilings, double vanity sinks, his-and-her closets, and a tile shower. Additional master suite, guest bedroom, two bathrooms, and laundry on main, as well as a separate bonus room above the true 3-car attached garage. Upstairs includes a spacious loft, king bedroom, full bathroom, and second bonus room with 4 built-in bunk beds. Lower level comprises a third master suite, yet another bedroom and full bathroom, and a workshop AND boat garage. Space galore! Walk a few steps out the front door over to the 1/3-acre lakefront featuring a two-story, two-stall boathouse with new decking and a partially covered party deck; a large, flat lawn for endless summer games; and, a protected inlet of Murray Cove for safe swimming and entertaining! Walk a few steps out the back door to a large pavilion highlighting a hot tub, grilling area, and outdoor television. Do NOT miss the opportunity to be the “go-to” house on Lake Burton: from the rentability to the sleeping arrangements to the infinite entertainment, this home checks ALL the boxes for the perfect lake house! The manager has listed the unit size as 3696 square feet.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017