3528 Lake Heights Drive
About This Property
Set amidst the serene landscape of a Waco hillside, the home is situated perfectly on the grounds to almost disappear when viewed from the street, however, from inside it affords tranquil views of Lake Waco and mature trees. As you approach, you're greeted by a material-rich masterpiece, showcasing Ford's signature mid-century style with organic materials of wood, stone and glass. A standing seam roof, floor-to-ceiling windows and striking stone fireplace are further characteristic features seen in his designs.
Wide-planked loblolly pine flooring, reclaimed from an old cotton gin, whispers stories of generations past with its hard-worn grooves and markings. Every corner of the home offers glimpses of the surrounding natural beauty, with lake and wooded views visible from almost every window.
The home remains true to O'Neil Ford's original vision, with meticulous attention to detail evident in every aspect of its design. The front doors, crafted by Ford's brother, Lynn Ford, are a testament to the artisanal craftsmanship that defines this residence. Despite their weightiness, they swivel effortlessly on their original hardware, inviting you into a world of timeless elegance.
Throughout the home, ceramic light fixtures, custom-designed by Martha and Beau Mood (and presently highly collectible), serve as both functional illuminators and exquisite works of art. Their muted colors and handcrafted textures add an organic warmth to the space, complementing the natural surroundings.
In the living area, segmental arches in the ceiling,
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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 |
|---|---|---|---|
| Sep 23, 2024 | Sold | ||
| Sold | |||
| Apr 16, 2024 | Listed by Kelly, Realtors | $680,000 | |
| Listed by Kelly, Realtors | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017