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240 Boulder Ridge
About This Property
Fully "build-ready," the lot features an installed well and a permitted septic system-streamlining the path to your mountain retreat. Underground utilities, paved roads, and excellent cell service add to the convenience.
The Peaks at Lake Lure is a prestigious 200-acre, gated neighborhood located just south of Lake Lure, offering a private pond, gazebo, picnic area with outdoor fireplace, and low-maintenance, HOA-maintained roads and common areas. Located halfway between Chimney Rock State Park and downtown Lake Lure, it offers easy access to Asheville, Hendersonville, and prime outdoor recreation.
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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 |
|---|---|---|---|
| Oct 14, 2026 | Price Decreased |
$102,900
↓ $7K
(6.4%) | |
| Price Decreased | |||
| Jun 10, 2026 | Price Decreased |
$109,900
↓ $5K
(4.4%) | |
| Price Decreased | |||
| Mar 17, 2026 | Price Decreased |
$114,900
↓ $5K
(4.2%) | |
| Price Decreased | |||
| Nov 15, 2025 | Price Decreased |
$119,900
↓ $5K
(4.1%) | |
| Price Decreased | |||
| Aug 23, 2025 | Price Decreased |
$125,000
↓ $3K
(2%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017