3920 Smelley Road
About This Property
The gated entrance opens to a classic arrival, crossing a spring-fed pond with a tranquil water feature. The approach feels special for everyday living and equally fitting for events. For daily use, a rose-covered arbor frames the side entrance near the kitchen, often called a friend door in Southern architecture. Weddings and company gatherings naturally turn toward the home's grand entrance for valet-style convenience, where guests step out near the arched solid-wood front door with glass transom. Inside, the entry flows into the more than one thousand square foot dining and entertaining parlors.
The home's scale and architectural intention become clear throughout. Inspired by Ken Tate's Southern Coastal work and A. Hays Town's use of reclaimed regional materials, the residence features antique Louisiana pine beams, custom cypress doors, working plantation shutters with iron hinges, and Marvin windows and doors. The Grand Parlor and adjoining Hearthside Parlor open through double glass doors to terraces, the landscaped pool, and lake views.
The main-level primary suite includes a stately bedroom, remodeled bath, large custom closet, and a flexible wellness or nursery room. Upstairs are three en-suite guest rooms, two with balconies. The attached studio offers a full kitchen, renovated bath, and lakeside patio. The insulated workshop with hydraulic lifts and climate-controlled workspace completes the property.
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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 |
|---|---|---|---|
| Oct 7, 2026 | Price Decreased |
$2,975,000
↓ $175K
(5.6%) | |
| Price Decreased | |||
| Sep 2, 2026 | Price Decreased |
$3,150,000
↓ $150K
(4.6%) | |
| Price Decreased | |||
| May 13, 2026 | Listed by Dave Perry Miller Real Estate | $3,300,000 | |
| Listed by Dave Perry Miller Real Estate | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017