50 Red Cedar Way
About This Property
This home backs against a lush nature preserve offering a canvas of possibilities, including the option to add a private pool. Renovated in 2020, the home now boasts a spacious laundry/mud room, a stylish half bathroom with a sliding barn door, and expanded outdoor living areas. This home backs against a lush nature preserve offering a canvas of possibilities, including the option to add a private pool. Renovated in 2020, the home now boasts a spacious laundry/mud room, a stylish half bathroom with a sliding barn door, and expanded outdoor living area.
Step onto the screened front porch, where a serene atmosphere invites you to unwind on the swinging bed, embraced by the gentle coastal breeze and Sonos speakers to enjoy music as you relax. Inside, discover a thoughtfully designed living and dining area, alongside a gourmet kitchen adorned with quartz countertops, top-of-the-line Thermador appliances, and a farmhouse sink. The wine cooler stands ready to elevate your gatherings with family and friends, while a versatile office nook adds functionality to the space.
Transition seamlessly from indoor to outdoor living through the covered porch, perfect for al fresco dining and entertaining against a backdrop of natural beauty. The first floor hosts two bedrooms, including a tranquil master suite overlooking the wooded landscape, complete with a luxurious soaker tub, separate shower, and walk-in closet adorned with built-ins. A private screened porch offers a secluded retreat for morning coffee and birdwatching.
Upstairs, two additional bedrooms, making this home a sought-after destination with a proven rental history. Miles of bike paths connect tennis and pickleball courts with parks and watersports on Western Lake. The private Beach Club offers laid-back gulf-front dining, three pools and direct access to the Gulf of Mexico. Closer to home, Camp WaterColor has a lazy river, additional pools and enough water slides to make this a vacation paradise.
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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 |
|---|---|---|---|
| Oct 18, 2024 | Sold | ||
| Sold | |||
| Mar 15, 2024 | Listed by Scenic Sotheby's International Realty | $2,620,000 | |
| Listed by Scenic Sotheby's International Realty | |||
| Dec 17, 2023 | No longer available | - | |
| No longer available | |||
| Dec 1, 2023 | Price Decreased |
$2,775,000
↓ $25K
(0.9%) | |
| Price Decreased | |||
| Oct 28, 2023 | Price Decreased |
$2,800,000
↓ $100K
(3.5%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017