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1224 Abelia Drive
About This Property
Owner financing available w.a.c. and significant down payment, making design-build an easy process!
The homesite has been thoughtfully cleared and is ready for construction, allowing you to immediately begin creating a custom luxury residence tailored to your vision. With an expansive building envelope and generous waterfront frontage, there is ample space to design resort-style outdoor living areas, an infinity-edge pool, lush landscaping, entertaining terraces, outdoor kitchen spaces, and private lakeside retreats.
Wake each morning to sparkling water views and enjoy spectacular sunsets over the lake from your future dream home. Despite its peaceful waterfront setting, the property offers exceptional convenience with quick access to Loop 820, premier shopping, fine dining, entertainment, and major employment centers.
Luxury lakefront parcels of this quality and location are increasingly rare. Whether envisioned as a private family compound, a modern architectural masterpiece, or an elegant waterfront retreat, this remarkable property presents a once-in-a-generation opportunity to create an exceptional lifestyle on the shores of Lake Worth.
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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 |
|---|---|---|---|
| Jul 15, 2026 | Price Decreased |
$249,900
↓ $50K
(16.7%) | |
| Price Decreased | |||
| May 30, 2026 | Listed by The Property Shop | $299,999 | |
| Listed by The Property Shop | |||
Property Highlights
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About South Lake Worth
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017