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22766 Diamond Bay Drive
About This Property
Wall-to-wall windows along the living, dining, and kitchen areas frame Lake Palestine and fill the home with natural light. The stone fireplace adds warmth to the open layout, creating a comfortable setting for weekend gatherings or everyday living. The spacious primary suite features an oversized shower and dual walk-in closets, while two additional bedrooms and a large bonus room provide flexible space for guests, work, or play.
Step outside to an expansive deck overlooking a deep, grassy backyard-ideal for kids, pets, or relaxed afternoons by the water. The boathouse sits on a generous stretch of shoreline and is designed for easy lake access, from morning fishing to sunset cruises. The lot's depth and gentle slope make the entire property unusually usable compared to many lakefront parcels.
With Brownsboro ISD schools, low HOA dues, and a peaceful, established setting, this home works beautifully as a weekend lakehouse or a full-time residence. And when you're not on the water, you're just minutes from two of East Texas' favorite Cajun spots-Catch Me If You Can (8 minutes) and Wade's Place (18 minutes). Approachable, comfortable, and ready for immediate enjoyment, this is lake living made easy on one of the most scenic stretches of Lake Palestine.
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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 |
|---|---|---|---|
| Jun 4, 2026 | Sold | ||
| Sold | |||
| May 27, 2026 | In contract | - | |
| In contract | |||
| Apr 17, 2026 | Price Decreased |
$749,000
↓ $46K
(5.8%) | |
| Price Decreased | |||
| Nov 25, 2025 | Price Decreased |
$795,000
↓ $50K
(5.9%) | |
| Price Decreased | |||
| Oct 29, 2025 | Listed by Dave Perry Miller Real Estate | $845,000 | |
| Listed by Dave Perry Miller Real Estate | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017