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4500 Lake Shore Drive
About This Property
Sitting on two spacious lots, this property provides room to spread out and enjoy everything lake living has to offer. The additional space includes a large workshop, storage building, circular driveway, and two separate 2-car carports - providing plenty of room for vehicles, boats, lake toys, and hobbies.
Inside, each bedroom features its own private bathroom, offering comfort and convenience for family and guests. The home has been well-loved and remains mostly original, with some updated flooring already in place. With a little TLC and fresh flooring, this property has the potential to truly shine. All kitchen appliances are included, making it easy to move right in and start enjoying your new lake lifestyle.
One of the standout features is the large metal roof that extends over the entire home and covers the massive back deck. Step outside and take in beautiful views of Lake Brownwood while relaxing, entertaining, or enjoying quiet evenings by the water.
The second lot adds even more possibilities - whether you envision adding another residence, creating an RV pad, expanding your outdoor space, or simply enjoying the extra privacy. Opportunities like this are hard to find at this price point!
With low annual HOA dues, residents enjoy added perks including free trash service, access to the community boat dock, boat ramp, and swimming pool. Whether you're looking for a peaceful permanent home or the perfect weekend getaway, 4500 Lake Shore Drive is a rare opportunity to own a piece of Lake Brownwood living.
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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 14, 2026 | Price Decreased |
$179,000
↓ $10K
(5.3%) | |
| Price Decreased | |||
| Jun 12, 2026 | Listed by Faith & Legacy Realty | $189,000 | |
| Listed by Faith & Legacy Realty | |||
| Nov 6, 2025 | Temporarily off market | - | |
| Temporarily off market | |||
| Apr 26, 2025 | Listed by Texas Realty, LLC | $150,000 | |
| Listed by Texas Realty, LLC | |||
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Lakefront property with a 3BR 2BA mobile home, storage buildings on 2 lots that total .66 acre in Harbor Point. There is a huge back deck with a metal cover overlooking the water. Lake is full, so this is a great time to get your lake home before summer!
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| Aug 9, 2024 | Delisted | - | |
| Delisted | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017