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Essex
28 Dreams Way
$955,000
● House - Off Market

28 Dreams Way

Schroon Lake, NY 12858
bedrooms
3 Beds
bathrooms
3 Baths
$1,044,973
RealtyHop Estimate
6.09%
Since Jan 1, 2023
National-US
Primary Model

About This Property

Dreams are made at homes like this stunning 3bd/3bath log on Paradox Lake.  Built in 2001 by Morse Construction a private road leads you to this full log home sitting on over two acres with 174' of direct lakefront.  The main level offers an open layout with kitchen, dining, and living area with wood burning fireplace leading to a three season porch and then open deck overlooking the lake for al fresco dining & entertaining.  Second floor offers a 300 sq. ft loft bedroom w/ full bath. The lower level includes a family room, pellet stove, fourth sleeping area with a full bath, and workshop/storage room. Full walk-out leads you down to a floating dock & privacy galore at the shoreline with views of Grass Island and Narrows Mountain.
Unit Size
-
Days on Market
-
Land Size
2.11 acres
Price per sqft
-
Property Type
House
Property Taxes
$819
HOA Dues
-
Year Built
2001

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

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.

Last updated: 3 years ago (Global MLS #202227358)

Price History

Date / Event Date Event Price
Dec 19, 2022 Sold
Premium
Sold
Sep 27, 2022 Listed by Gallo Realty ADK Inc. $985,000
Listed by Gallo Realty ADK Inc.

Property Highlights

Fireplace

Building Info

Overview

    General

  • Year Built: 2001
  • Effective Year Built: 2001
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • Building Condition: 3
  • Building Quality: 4
  • Construction Type: 0
  • Building Style: 26
  • Exterior Walls Type: 17
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 150
  • Floor Cover: 0
  • Basement Type: 3
  • Basement Area: 888
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 7
  • Pool Type: 0
  • Location Influence Type: 23

    Dimensions

  • Lot Size Square Feet: 91,912
  • Lot Size Depth Feet: 2,000
  • Lot Size Frontage Feet: 1,740
  • Total Building Area: 1,645
  • Gross Building Area: 1,645
  • Building Area: 1,645
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,645
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 4
  • Water Service: 5

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000002110
  • Standard Land Use Code: 1001
  • County Land Use Code: 210
  • Legal Description 1: 7 & 80 PARADOX TRACT BLDG 1

Neighborhood

  • School District Name: Schroon Lake Central School District
  • School Tax School District: SCHROON LAKE
  • Census Tract: 961300

Zoning

  • Zoning: 02 - SINGL

Geography

  • Account Number: 695J193022
  • District: 154600
  • Section: 137.01
  • Parcel: 154600 137.1-4-26.500
  • Block: 4
  • Lot: 26.500
  • Municipality: SCHROON
  • Latitude: 43.8867
  • Longitude: -73.6702

    Address

  • Full Address: 28 Dreams Way
  • Address - House Number: 28
  • Address - Street Name: Dreams
  • Address - Suffix Type: Way
  • State: NY
  • City Name: Paradox
  • Zip Code: 12858

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $1,000,081
  • Tax Rate Code Area: 154601

    Appraisal Valuation

  • Standard Deviation: 0.1437
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 59
  • Final Value: 1,021,183
  • High Value: 1,308,307
  • Low Value: 734,059

    Market Valuation

  • Market Total Value: $794,700
  • Market Land Value: $428,100
  • Market Improvement Value: $366,600

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $794,700
  • Assessed Land Value: $428,100
  • Assessed Improvements Value: $366,600

    Sales

  • Current Sale Contract Date: Dec 14, 2022
  • Current Sale Recording Date: Dec 19, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2022-5878

    Financing

  • First Mortgage Financing Type: ADJ
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Essex

Stats & Trends

Median Asking:

$234,900

Sale Price/ft²

$156

Below Asking

0.05%

Average Days on Market

91

Average Home Size

1764 ft²

Average Home Age

72.9 years

Currently For Sale

112 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Rentals Near You

Click here to view more rentals in the neighborhood.
Global MLS

Listed by: Angela Mead
Gallo Realty ADK Inc.
Last Updated: 3 years ago
Data Source: Global MLS , MLS# 202227358
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 28 Dreams Way built and last sold?
The property at 28 Dreams Way was built in 2001 and last sold on Dec 14, 2022 for $955,000.
How much is this home worth?
The estimated value of the home located at 28 Dreams Way is $0.
What are some comparable homes to 28 Dreams Way?
There are currently no comparable homes to 28 Dreams Way.
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