48 River Heights Drive
About This Property
The heart of the home is the impressive 27x27 chef's eat-in kitchen with custom cherry cabinetry, granite countertops, natural stone backsplash, a massive 13x5 granite island, high-end appliances, 2 dishwashers, 2 sinks, double ovens, and a butler's pantry with additional refrigerator/freezer, sink, storage, and heated floors. The kitchen flows into a palatial 40x20 great room with a natural gas fireplace, built-ins, oversized sliders, and beautiful views of the backyard oasis.
The 900 sq ft primary suite is a true retreat with soaring 13 ft ceilings, a spa-like bath, oversized shower, jacuzzi tub, double granite vanities, and a custom walk-in closet. Additional highlights include a second-floor dream laundry room with 2 washers, 2 gas dryers, granite folding counters, a custom office, spacious bedrooms, custom baths, and a newly finished basement completed in 2025.
Set on a flat and private .52-acre property, the backyard is an entertainer's dream with an in-ground pool, brand-new liner, granite coping, Italian porcelain pavers, sitting wall, gas fire pit, architectural columns, lighting, and beautiful outdoor living space. Located in the Smithtown Central School District and close to beaches, parks, golf, marinas, restaurants, and shops, this turnkey home offers luxury living inside and out.
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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 14, 2026 | Sold | ||
| Sold | |||
| Jul 16, 2026 | In contract | - | |
| In contract | |||
| May 28, 2026 | Listed by Signature Premier Properties | $1,499,999 | |
| Listed by Signature Premier Properties | |||
| May 24, 2026 | Temporarily off market | - | |
| Temporarily off market | |||
| May 9, 2026 | Price Decreased |
$1,595,995
↓ $63K
(3.8%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017