21313 Island Forest Drive
About This Property
Nestled in the heart of Lake Norman, this beautifully updated Craftsman-style home offers water views and spacious living, plus you're zoned for top-rated schools. Thoughtfully renovated with modern upgrades throughout, the home blends timeless charm with exceptional functionality. The fully renovated kitchen features quartz countertops, an oversized stainless sink with upgraded faucet, white oak cabinetry, soft-close drawers, walk-in pantry, stylish backsplash, reverse osmosis water filtration connected to the refrigerator, new gas stove, and an oversized island with seating for six. A stunning 100-inch kitchen window overlooks the private backyard. New engineered hardwood flooring and fresh interior paint complete the interior updates. The great room features vaulted ceilings, wall-to-wall windows, abundant natural light, and a gas fireplace. A main-level bedroom or flex space with nearby full bath offers ideal guest, office, or multi-generational living options. Upstairs, the primary suite includes vaulted ceilings, a walk-in closet, and a fully renovated spa-inspired bath with a freestanding soaking tub and walk-in shower with modern tile finishes. Two additional bedrooms share a Jack-and-Jill bath, while a fourth bedroom or office includes custom built-ins. A spacious bonus room and screened porch offer beautiful Lake Norman views. Outdoor living is designed for entertaining with a deck, outdoor stone fireplace, two screened porches, raised garden beds, stepping stones, and professionally enhanced landscaping with lavender, trees, and azaleas (2024), and in-ground irrigation. Additional parking provides space for guests or a boat, and the private backyard is surrounded by mature trees. Additional features include a new roof (2024) and Nest thermostat. Located near Lake Norman, this home offers easy access to boating, outdoor recreation, and nearby Charlotte. Residents of Island Forest enjoy HOA lake access and a community boat launch area, making it easy to embrace the very best of lake life. The neighborhood is surrounded by premier dining, boutique shopping, local breweries, and year-round events that make the Lake Norman area one of the region's most sought-after destinations. Don't miss this exceptional opportunity - schedule your private tour today!
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 21, 2026 | Sold | ||
| Sold | |||
| Jul 15, 2026 | In contract | - | |
| In contract | |||
| Jun 21, 2026 | Relisted | $990,000 | |
| Relisted | |||
| Jun 5, 2026 | In contract | - | |
| In contract | |||
| Jun 2, 2026 | Listed by Keller Williams Ballantyne Area | $990,000 | |
| Listed by Keller Williams Ballantyne Area | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017