16506 Shimmering Lake Drive
About This Property
Inside you'll find a study with French doors, a formal dining room, and a laundry room with built-in cabinets. The large secondary bedroom has its own ensuite bath and private patio access. The kitchen offers granite countertops, tile flooring with abundant wooden cabinetry. The space boasts an open-concept layout connecting the kitchen to the living room showcasing a gas fireplace and abundant natural light. The primary suite includes carpet, crown molding, a jacuzzi tub beneath the window, dual vanities, a step-in shower and a large convenient walk-in closet for all your needs. A screened-in porch overlooks the beautifully landscaped backyard-a perfect treat for kids and pets. This is a beautiful house that combines luxury & comfort, the perfect place to call home!
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Cap Rate Calculator
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 23, 2025 | Sold | ||
| Sold | |||
| Jul 3, 2025 | In contract | - | |
| In contract | |||
| Jun 10, 2025 | Price Decreased |
$385,000
↓ $10K
(2.5%) | |
| Price Decreased | |||
| May 16, 2025 | Listed by eXp Realty LLC | $395,000 | |
| Listed by eXp Realty LLC | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017