3938 CHERRY LANE
About This Property
Boasting over 3725 finished square feet, the property offers a seamless blend of classic design and comfortable living. The main level offers a dramatic two-story foyer welcoming you into the home, where the soaring family room is anchored by a wood-burning fireplace insert, framed by two full-glass French doors that perfectly capture the surrounding mountain and farmland views. Formal living and dining rooms create ideal spaces for entertaining, while the spacious kitchen features granite countertops, a seven-foot center island with seating, stainless steel appliances, cooktop, and double wall ovens - designed to accommodate both everyday living and memorable gatherings. A conveniently located half bath adds functionality for guests, while the mudroom and laundry combination offers practical everyday organization with ample space for storage, laundry, and easy access for busy households.
The upstairs features three extra-large bedrooms, including a primary suite complete with a walk-in closet and en suite bath. An additional finished bonus room above the attached two-car garage offers exceptional versatility, ideal for a home office, guest retreat, fitness studio, or creative space. In addition to the oversized attached two-car garage, the property also includes a detached two-car garage, offering ample space for vehicles, hobbies, or additional storage.
The fully finished lower level further enhances the home's impressive living space, featuring a large recreation area, den, wet bar, full bath, storage area, and walk-up access to the backyard.
While the interior is exceptional, the outside is where the real show begins. The beautifully landscaped yard surrounds an inviting in-ground saltwater pool and relaxing hot tub, creating a private outdoor oasis perfectly suited for both quiet evenings and unforgettable entertaining. Beyond the property, neighboring horses grazing peacefully in the surrounding pastures add to the idyllic country setting, while the sweeping countryside views provide a stunning backdrop in every season.
Peaceful, private, and impeccably maintained, 3938 Cherry Lane offers the rare combination of scenic beauty, expansive living spaces, and exceptional outdoor living- all within the highly sought-after Middletown school district.
***Full photos will be available on 6/13. Showings to begin 6/18, not before.
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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