21 Rip Van Winkle Drive
About This Property
Set on a private 324-acre, two-and-a-half-mile-long lake, this property puts you right on the water with direct access for boating, fishing, kayaking, and waterskiing. Known as one of the best large- and small-mouth bass fishing habitats in New York State  -- and even home to the current NYS record for White Crappie -- the lake is a true sportsman's paradise.
The surrounding 2,200-acre planned community is nestled within the viewshed of the Taconic Mountains to the east and the Catskill Mountains to the west,  offering breathtaking scenery in every direction. As an association member, you'll enjoy an incredible array of amenities: pools, a sand beach, tennis, pickleball, bocce, playgrounds, a lodge, basketball, a driving range, and more. 
Located just a half-hour south of Albany with easy access to Hudson, Saratoga Springs, Hunter/Windham ski resorts, and NYC, this is four-season living at its finest. Whether you're looking for a primary residence or a lakefront retreat, Sleepy Hollow Lake offers a true sense of community rooted in natural beauty, recreation, and neighborhood warmth.
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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 |
|---|---|---|---|
| Sep 28, 2026 | Relisted | $25,000 | |
| Relisted | |||
| Aug 19, 2026 | In contract | - | |
| In contract | |||
| Jun 7, 2026 | Listed by Venture Fox Realty Group LLC | $30,000 | |
| Listed by Venture Fox Realty Group LLC | |||
| Apr 22, 2021 | No longer available | - | |
| No longer available | |||
| Mar 3, 2021 | Relisted | $3,500 | |
| Relisted | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017