189 CR 563
About This Property
Originally built in the early 1960s, the home was taken to the studs & fully rebuilt in 2018, including new plumbing, electrical, foam insulation, an oversized garage, & a second-story addition. The result is approximately 2,415 square feet with 4 bedrooms (2 up, 2 down) & 2 & half baths. Large windows on both levels flood the home with natural light & showcase serene lake & treetop views.
The kitchen & baths feature granite countertops & custom alder cabinetry, while a stained pine ceiling adds warmth to the kitchen & family room. The exterior makes a statement with Leuders limestone on the first floor & Ipe wood siding above-an exceptionally durable, decay- and fire-resistant hardwood. A 20' x 17' Ipe rooftop deck creates an elevated outdoor living space perfect for entertaining or sunset views.
Modern functionality is built in, including an oversized two-car garage with 240-volt EV or RV hookups, separate HVAC systems, two water heaters, LED lighting, a cell phone booster, satellite TV wiring, & all major appliances included. A 20' x 16' metal storage shed adds convenience, & the BBQ patio & pump house roofs were replaced in 2025.
The standout feature is the oversized boat dock, built in 2017 with heavy-duty construction. Measuring approximately 49' x 31', it sits in 14 to 16 feet of water when full & offers composite decking, LED lighting, a covered upper deck, two boat slips with lifts, a dual WaveRunner bay, built-in storage, a retractable swim ladder, & a 3 light fishing system.
More than a lake house, the home is a refined waterfront lifestyle-designed for comfort & positioned in one of Lake Brownwood's most desirable settings.
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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 |
|---|---|---|---|
| Sep 4, 2026 | Sold | ||
| Sold | |||
| Aug 12, 2026 | In contract | - | |
| In contract | |||
| May 29, 2026 | Price Decreased |
$895,000
↓ $50K
(5.3%) | |
| Price Decreased | |||
| Feb 16, 2026 | Listed by Faith & Legacy Realty | $945,000 | |
| Listed by Faith & Legacy Realty | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017