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238 LAKE DRIVE
About This Property
Inside, the home offers a versatile layout with plenty of room to spread out. Natural light fills the living areas, while a fireplace adds warmth and character. The kitchen features light cabinetry, stainless steel appliances, ample counter space, and an adjoining dining area.
The waterfront setting is the highlight. Step outside to a spacious screened porch overlooking the lake, creating an inviting extension of the living space for dining, entertaining, or simply taking in the view. Additional outdoor areas, mature trees, and established landscaping complement the property's generous lot and lakefront setting.
Built in 1989 and complete with five bedrooms, three full baths, a one-car garage, and more than a quarter-acre of land, this property offers a rare combination of space and waterfront living within Orlando. Convenient access to shopping, dining, major roadways, and everything Central Florida has to enjoy completes the package.
Schedule your private showing and experience 238 Lake Drive for yourself!
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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 14, 2026 | Listed by CMI REALTY | $430,000 | |
| Listed by CMI REALTY | |||
| Sep 16, 2025 | Price Decreased |
$604,000
↓ $1K
(0.2%) | |
| Price Decreased | |||
| Aug 28, 2025 | Listed | $605,000 | |
| Listed | |||
| | |||
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Welcome to 238 Lake Dr, Orlando! Updated and filled with natural light, this charming home offers breathtaking Lake Sherwood views, where you’ll enjoy peachy sunsets right from your back porch. With a 2019 roof, brand-new 2025 AC, garage parking, and an attached in-law suite with private entrance, it’s ideal for family or an ADU for investment income. Garden beds await your herbs and vegetables, and lake lovers will appreciate fishing, kayaking, and serene evenings on the water. Best of all...No HOA!
Don’t miss this rare lakefront lifestyle. Schedule your private showing today!
| |||
| Aug 5, 2025 | Price Decreased |
$599,000
↓ $29K
(4.6%) | |
| Price Decreased | |||
| Jul 29, 2025 | Price Decreased |
$628,000
↓ $16K
(2.5%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017