1207 MERRY WATER DRIVE
About This Property
From the moment you arrive, you'll be impressed by over 2,000 square feet of newly sealed entry pavers (2025), extensive mature landscaping with irrigation and drip systems, dramatic landscape lighting, and nine mature Washingtonian palm trees creating stunning curb appeal-especially at night. Hurricane-impact windows throughout provide peace of mind with no shutters required.
Inside, the home is fully integrated with a Control4 smart home system, allowing lighting, audio, security cameras, TVs, climate control, and more to be managed seamlessly from your phone. The gourmet kitchen features custom cabinetry, South African granite, GE Profile gas appliances (all under three years old), reverse-osmosis water, wine bar with refrigerator, and built-in security monitoring. Adjacent living and family spaces showcase custom ceiling details, wood beams, marble gas fireplace, expansive sliding doors, surround sound, and designer drapery-perfect for both entertaining and everyday living.
The spacious primary suite offers private pool access, walk-in closets with custom built-ins, Control4 surround sound, and a spa-like bath with oversized dual-head shower. Additional bedrooms include private baths and balconies, while the upstairs family room opens to an outdoor balcony with surround sound and lake views.
Outdoor living is exceptional with a full screened pool enclosure, travertine pavers, illuminated pool and spa with dual motors and fountain feature, and a custom gazebo complete with a 2025 built-in grill, cooktop, refrigerator, and TV. Whether hosting gatherings or relaxing lakeside, this space is designed to impress.
Additional highlights include three separate AC units (primary unit just six months old), Vivint security system, hurricane protection, dedicated study, smart laundry room with Control4 rack system, and two garages totaling five parking spaces-one with EV-ready high-amp outlet, custom cabinetry, work area, and advanced lighting and irrigation controls.
This is a truly rare opportunity to own a technologically advanced, meticulously maintained luxury home in one of the area's most desirable communities. Schedule your private showing today.
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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 |
|---|---|---|---|
| May 8, 2026 | Sold | ||
| Sold | |||
| Mar 30, 2026 | In contract | - | |
| In contract | |||
| Mar 13, 2026 | Price Decreased |
$1,695,000
↓ $30K
(1.7%) | |
| Price Decreased | |||
| Mar 3, 2026 | Price Decreased |
$1,725,000
↓ $50K
(2.8%) | |
| Price Decreased | |||
| Feb 25, 2026 | Price Decreased |
$1,775,000
↓ $25K
(1.4%) | |
| Price Decreased | |||
Property Highlights
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About Lutz
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017