322 DEVILS HALF ACRE ROAD
About This Property
The main level centers on an enormous great room with twenty-foot vaulted ceilings, exposed beams and floor to ceiling windows framing the panorama. Three spacious bedrooms flank the great room, including an en suite with private deck access and vaulted ceilings: two bedrooms and another full bathroom, and the great room opens to the loft above. This kitchen is outfitted with top-of-the-line appliances, including a multi-function microwave that air fries, bakes, and grills.
The finished walk out lower level is a home on its own right – a second full kitchen, second great room, two additional bedrooms, an extra-large full bath, laundry room, and pantry, all opening through sliding glass doors to a concrete patio. It's a true dual living layout: ideal for multi-generational living, a private guest wing, or hosting large groups.
A turn-key income opportunity. With no HOA or no rental restrictions – a genuine rarity in this market – this five-bedroom home is positioned to perform as a long-term or short-term vacation rental when you're not using it. The lower level is equipped to function as a home of its own and could be rented separately to generate revenue. A fully furnished, turnkey option is available for buyers who want to start earning or enjoying from day one.
Outside, the land delivers just as much as the home, a stone firepit and seating ready to go, a patio prewired for a hot tub, an open field for football and volleyball, and a large 40'x30' pole building for boat, RV, and recreational equipment storage. The 12.86 acres offer the privacy, space, and sweeping views that lakefront lots simply can't – all just a short drive to boat launches, marinas, dining, Deep Creek Lake State Park and four-season recreation.
This is more than a home. It's a front row seat to the mountains in every season, with the flexibility to be your escape, your residence, or your investment.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017