188 SUMMERSHORE DRIVE
About This Property
The upgraded kitchen features granite countertops, island, oversized 42-inch soft-close cabinetry, stainless-steel appliances, custom backsplash, walk-in pantry, and farmhouse-style sink. Step outdoors to the approximately 37' x 10' fully screened rear lanai with epoxy flooring, fans, and a custom outdoor kitchen with hot/cold-water sink, all overlooking the large pond behind the home. Lake Van sits across Summershore Drive, providing the unique dual-water-view setting.
Major improvements include a 5-ton Trane HVAC installed October 2025, 18K mini-split serving the garage, and an insulated garage upgraded with heating and cooling, epoxy flooring, utility sink, and stainless refrigerator/freezer. Additional features include LED dimmable lighting, lighted outlets throughout the house, solar film tinting on windows, water softener and filtration system, hot-water recirculation system, owned security system, video surveillance features, paver-lined driveway and walkway, decorative glass entry door, mature landscaping, and refreshed St. Augustine lawn.
The exterior received a seller-reported Rhino Shield protective coating in April 2026 with a 25-year warranty. Watercrest Estates offers convenient access to I-4 and a central location between the greater Orlando and Tampa areas with a very short commute to Walt Disney World. No detail in this immaculate home was overlooked. A rare combination of water views, upgraded living spaces, screened outdoor entertaining, flexible rooms, and an enhanced garage, not to mention a 2.25 VA ASSUMABLE RATE makes this home a must-see!
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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%.
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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.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017