1981 Underwood 1B
About This Property
The property is heavily wooded with mature trees and has been thoughtfully and strategically cleared to maximize lake views while preserving the privacy and seclusion that make this tract so special. From multiple vantage points across the property, you'll enjoy stunning views of the water without sacrificing the feeling of being tucked away in your own private sanctuary.
Whether you're envisioning a luxury lakefront estate, a weekend retreat, or a long-term investment, opportunities like this are increasingly difficult to find. With over 800 feet of waterfront, expansive acreage, abundant wildlife, and a carefully balanced blend of open views and wooded privacy, this property offers a truly unique setting for enjoying life on the lake.
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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 |
|---|---|---|---|
| Oct 5, 2026 | Price Increased |
$1,150,000
↑ $575K
(100%) | |
| Price Increased | |||
| Oct 5, 2026 | Price Decreased |
$575,000
↓ $620K
(51.9%) | |
| Price Decreased | |||
| Sep 13, 2026 | Listed by Prestigious Homes | $1,195,000 | |
| Listed by Prestigious Homes | |||
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Rarely does a property of this caliber become available. Spanning 19.82 deeded acres and boasting approximately 1,688 feet of lake frontage, this remarkable waterfront tract offers an extraordinary combination of acreage, privacy, and breathtaking water views. The property features both expansive open-water frontage and shoreline extending down a protected finger of the lake, creating a diverse and highly desirable waterfront setting. In addition to the deeded acreage, the property benefits from an extensive SRA leaseback area that extends toward the water, providing additional usable space, enhanced privacy, and a sense of scale that makes the property feel significantly larger than its already impressive 19.82 acres. Towering trees, abundant wildlife, and rolling terrain provide a beautiful natural backdrop, while a thoughtfully cleared homesite showcases what may be some of the most spectacular lake views available anywhere on the property. From this elevated setting, the panoramic views stretch across the water and create an ideal location for a custom lakefront residence, family compound, or private retreat. Adding to the property's appeal is an existing structure that is ready for renovation. With some updating, it could serve as the perfect weekend getaway or temporary residence while constructing your dream home and then double as a guest house once your residence is complete. A private pier is also in place and offers the opportunity for restoration, providing convenient access to the water and endless recreational possibilities. Large waterfront tracts with this amount of shoreline are becoming increasingly difficult to find. The combination of nearly 20 deeded acres, approximately 1,688 feet of lake frontage, substantial SRA leaseback acreage, open-water views, protected cove frontage, an existing structure, pier, and a premier homesite creates a truly exceptional opportunity to own one of the area's most unique and desirable waterfront properties.
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| Sep 1, 2026 | No longer available | - | |
| No longer available | |||
| Jun 18, 2026 | Listed by Prestigious Homes | $1,199,000 | |
| Listed by Prestigious Homes | |||
| |||
|
Rarely does a property of this caliber become available. Spanning 19.82 deeded acres and boasting approximately 1,688 feet of lake frontage, this remarkable waterfront tract offers an extraordinary combination of acreage, privacy, and breathtaking water views. The property features both expansive open-water frontage and shoreline extending down a protected finger of the lake, creating a diverse and highly desirable waterfront setting. In addition to the deeded acreage, the property benefits from an extensive SRA leaseback area that extends toward the water, providing additional usable space, enhanced privacy, and a sense of scale that makes the property feel significantly larger than its already impressive 19.82 acres. Towering trees, abundant wildlife, and rolling terrain provide a beautiful natural backdrop, while a thoughtfully cleared homesite showcases what may be some of the most spectacular lake views available anywhere on the property. From this elevated setting, the panoramic views stretch across the water and create an ideal location for a custom lakefront residence, family compound, or private retreat. Adding to the property's appeal is an existing structure that is ready for renovation. With some updating, it could serve as the perfect weekend getaway or temporary residence while constructing your dream home and then double as a guest house once your residence is complete. A private pier is also in place and offers the opportunity for restoration, providing convenient access to the water and endless recreational possibilities. Large waterfront tracts with this amount of shoreline are becoming increasingly difficult to find. The combination of nearly 20 deeded acres, approximately 1,688 feet of lake frontage, substantial SRA leaseback acreage, open-water views, protected cove frontage, an existing structure, pier, and a premier homesite creates a truly exceptional opportunity to own one of the area's most unique and desirable waterfront properties.
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About Hunt
Similar Homes for Sale
Currently no similar homes aroundNearby Rentals
$1,850 /mo
- 3 Beds
- 2 Baths
- 1,816 ft²
$3,500 /mo
- 5 Beds
- 4 Baths
- 3,790 ft²
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017