3255 Lake Trail Drive
About This Property
This home has deeded access to Silver Lake and sits on over an acre of private woodland. Located in one of Michigan's most sought-after resort communities, this modern Tudor lodge was originally built as a Parade Home and has been featured in an architectural showcase, a pedigree that shows in every detail. Three bedrooms, two of them ensuite, three bathrooms, soaring ceilings, a dramatic floor-to-ceiling stone fireplace, and a chef's kitchen with granite counters and a playful touch of lemon-yellow appliances that locals and guests have come to love. The screened rear porch, accessible from both the main living area and the primary suite blurs the line between inside and out in the best possible way. Step outside to a resort-caliber backyard, including inground pool with custom concrete decking, a firepit, fenced lawn, and naturalized woodland landscape that makes the rest of the world disappear. Association access to Silver Lake connects you via the Kalamazoo River all the way to Lake Michigan. Kayaking, boating, and open water, all from your doorstep. This property has operated as a premium short-term rental generating over six figures annually, with 2026 on pace to set a new all-time revenue record. A buyer doesn't just acquire this home, they acquire a proven, income producing asset in a market where properties like this rarely come available.
Once you arrive, you won't want to leave, and neither will your guests. Some homes are just houses; this one is a destination.
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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 14, 2026 | Sold | ||
| Sold | |||
| Jun 1, 2026 | In contract | - | |
| In contract | |||
| May 14, 2026 | Listed by Coldwell Banker Woodland Schmidt | $985,000 | |
| Listed by Coldwell Banker Woodland Schmidt | |||
| Apr 12, 2017 | Sold | ||
| Sold | |||
| Mar 29, 2017 | Listed by Coldwell Banker Woodland Schmidt | $495,000 | |
| Listed by Coldwell Banker Woodland Schmidt | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017