31
Map
36 Poverty Point Circle
About This Property
Lakefront opportunity with serious potential on Fort Phantom Lake.
If you've been waiting for a lake property with incredible potential in an unbeatable spot, this is it. Just minutes from Abilene, Dyess AFB, local colleges, data centers, and major growth areas, you truly can't beat this location.
Inside, you'll find a spacious layout with two dining areas, oversized living space, and a woodburning fireplace with blower. The kitchen offers wood cabinetry and updated appliances. Across the back of the home, a large sunroom and enclosed side porch overlook the lake, offering endless potential to create your dream space to relax and take in the views.
The 3 bedroom, 3 bathroom floorplan gives you flexibility with split bedrooms downstairs, plus a large upstairs bedroom with its own bath, vaulted wood ceilings, and a walk out balcony overlooking the water. Perfect for a second primary suite or private guest retreat.
Set on a large lot just shy of an acre with mature oak trees, circular driveway, garage, carport, and covered walkway, the bones are here for something really special. There is also a large shop with boat storage and direct lake access, plus a storm cellar, making it ideal for lake life, weekend escapes, or a future income producing Airbnb.
Outside is where this property really shines.
Gentle slope to the water, great frontage, and deep water access. Whether you enjoy fishing, kayaking, or just soaking up lake life, this property is ready for all your lake adventures.
Sold AS IS and does need work, but the upside here is huge.
This is a rare chance to grab lakefront property in a highly convenient location and make it your own.
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Cap Rate Calculator
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 |
|---|---|---|---|
| Aug 13, 2026 | Sold | ||
| Sold | |||
| Jul 16, 2026 | In contract | - | |
| In contract | |||
| Jul 2, 2026 | Price Decreased |
$275,000
↓ $24K
(8%) | |
| Price Decreased | |||
| Jun 15, 2026 | Relisted | $299,000 | |
| Relisted | |||
| May 19, 2026 | In contract | - | |
| In contract | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017