28956 Palisades Drive
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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%.
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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.
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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 |
|---|---|---|---|
| Jan 15, 2026 | Sold | ||
| Sold | |||
| May 7, 2025 | Listed | $1,995,000 | |
| Listed | |||
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Vintage Lakefront Gem and Dock in The Palisades – Emerald Bay, Lake Arrowhead. Tucked away in the coveted Palisades neighborhood on exclusive Emerald Bay, this charming vintage lakefront home offers the ultimate blend of timeless character, serene lake views, and modern comfort. With 4 bedrooms and 3 bathrooms, this beautifully maintained retreat is brimming with natural light, exposed beamed ceilings, and original details throughout. Designed for relaxation and entertaining, the main level boasts an inviting family room with stone fireplace and a wall of sliding glass doors. Both the living and dining spaces, and adjacent kitchen, open to one of the two expansive decks overlooking the sparkling waters of Lake Arrowhead—perfect for morning coffee, al fresco dining, or watching sunrise over the bay. A highlight of the property is the private and newly built single-slip dock, complete with a fully equipped dock house featuring a roll-up door, custom cabinetry, butcher block countertop, and power— with two oversized piers, this unique offering is ideal for lakefront living. The primary suite occupies its own private level and offers a true sanctuary, featuring vaulted ceilings, a cozy sitting area, a generous walk-in closet, and breathtaking views of the lake. A main level bed and bath offers convenience while the additional two bedrooms are privately tucked on the third level of the home, each with sliding doors to the large lower deck. Set on a beautifully landscaped lot with mature trees and plantings, this home provides a sense of privacy while also closely located to the Lake Arrowhead trail and charming Cedar Glen village with shops, dining, and local amenities. A rare opportunity to own a piece of Lake Arrowhead’s lakefront in one of its most desirable enclaves—where vintage charm meets lakefront luxury.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017