1505 Kanakoa Drive S
About This Property
Flexible seller-financing option available
REDUCED and Ready for new owners! This is an amazing Lakefront Retreat with Stunning Views. Use as a vacation home or a VRBO or both!
This is a spacious and well-maintained 3-bedroom, 3-bath lake home that sleeps up to 15. Situated on a large, tree-shaded lot with panoramic water views, this property offers peace, privacy, and income potential.
Interior features include two living areas, two master suites, and a bonus bunk room that can serve as a fourth bedroom or office. The open-concept layout showcases rustic finishes with wood flooring, exposed beams, and roughed cedar ceilings. The kitchen is equipped with solid surface countertops, tile backsplash, double ovens, and a breakfast bar.
Enjoy outdoor living with a wraparound porch, built-in grilling station, and dedicated dining area. The boathouse includes a remote-controlled power lift for both boat and jet ski, plus a lake pump and full-yard sprinkler system. Ample parking is available on the large concrete drive.
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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 |
|---|---|---|---|
| Jun 30, 2026 | Sold | ||
| Sold | |||
| Jun 11, 2026 | In contract | - | |
| In contract | |||
| May 28, 2026 | Price Decreased |
$575,000
↓ $20K
(3.4%) | |
| Price Decreased | |||
| Apr 30, 2026 | Price Decreased |
$595,000
↓ $4K
(0.7%) | |
| Price Decreased | |||
| Mar 26, 2026 | Price Decreased |
$599,000
↓ $999
(0.2%) | |
| Price Decreased | |||
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Last Updated: 5 months ago
Data Source: NTREIS MLS, MLS# 21139135
Details provided by NTREIS and may not match the public record
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