131 Peterson Drive
About This Property
If you've been searching for an affordable property with access to an all-sports lake, this unique opportunity deserves a closer look. Situated on a spacious lot, this property once featured a home and now offers endless possibilities for its next owner.
A 2-car garage remains on the property and includes a partially finished upper level ready to be completed to suit your needs. A large picture window provides abundant natural light and beautiful lake views, creating an ideal space for a future guest suite, recreation room, studio, or weekend retreat.
The rolling terrain of the lot lends itself perfectly to a walkout design, utilizing the area where the previous home once stood. Existing improvements include a cement pad and walkway, along with a well and septic system already in place. Whether you choose to build a new home, create a seasonal getaway, or simply enjoy the property as it is, the possibilities are plentiful. The rear of the property borders wooded land, offering privacy and a peaceful natural setting. Access is provided by a private road, with a modest $150 annual association fee covering maintenance of Peterson Drive and access to a small lakeside park. A nearby public boat launch makes it easy to enjoy all the recreational opportunities the lake has to offer, including boating, fishing, swimming, and kayaking.
Bring your vision and make this lakeside property your own.
Property is selling in "as" is condition. Seller will do no inspections or repairs.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017