28
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Lot 24 Edgewater Way
About This Property
The gently sloping terrain is mostly cleared with a scattering of mature trees, providing a beautiful canvas for designing a custom waterfront home while maximizing both privacy and panoramic views. With ample room for a sprawling single-story design, expansive outdoor living spaces, and a future boathouse (dock permitted), this property is ready to bring your lakefront vision to life.
Located on a prominent corner along private paved roads, the property offers an impressive sense of openness and easy accessibility while underground utilities, co-op water, and electricity are already available within the community. The homes in this subdivision are restricted to a minimum square footage of 1,600 square feet with no time frame to start your build.
Richland Park is one of Richland Chambers Lake's premier gated waterfront communities, where residents enjoy an outstanding collection of amenities including a private boat ramp, fishing pier, marina with boat slips, onsite boat storage area, lakeside pavilion featuring an outdoor fireplace, scenic stocked fishing ponds, playground, and beautifully maintained common areas. Whether you're looking for peaceful mornings on the water, afternoons spent boating and fishing, or evenings gathered around the pavilion overlooking the lake, this community was designed to embrace the lake lifestyle.
Conveniently located just a short drive from Corsicana and approximately an hour south of Dallas, this exceptional waterfront property offers the perfect balance of everyday convenience and weekend escape.
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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 |
|---|---|---|---|
| Jul 8, 2026 | Listed by RE/MAX Lakeside Dreams | $150,000 | |
| Listed by RE/MAX Lakeside Dreams | |||
| Sep 28, 2025 | No longer available | - | |
| No longer available | |||
| Sep 2, 2025 | Relisted | $149,900 | |
| Relisted | |||
| Aug 19, 2025 | In contract | - | |
| In contract | |||
| Jul 11, 2025 | Price Decreased |
$149,900
↓ $9K
(5.7%) | |
| Price Decreased | |||
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About Bear Creek Ranch
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017