48
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51 Lake Drive
About This Property
Inside, you'll find gleaming hardwood floors, original 1950s architectural details, and a stunning brand-new kitchen thoughtfully designed for today's lifestyle. An additional office/guest room provides flexible living space, while the inviting screened porch and expansive bi-level Trex decks create the perfect setting for entertaining or simply enjoying the peaceful waterfront surroundings.
The full walk-out basement offers endless possibilities for storage, recreation, or future expansion. Major updates include a new furnace, water heater, kitchen, and whole-house generator (2024), allowing you to move in with confidence.
Whether you're sipping coffee on the deck, launching a kayak from your private dock, or gathering with friends on the lakeside stone patio, this exceptional property delivers the waterfront lifestyle you've been dreaming of.
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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 |
|---|---|---|---|
| Aug 26, 2026 | Price Decreased |
$649,000
↓ $10K
(1.5%) | |
| Price Decreased | |||
| Aug 16, 2026 | Price Decreased |
$659,000
↓ $10K
(1.5%) | |
| Price Decreased | |||
| Aug 6, 2026 | Price Decreased |
$669,000
↓ $10K
(1.5%) | |
| Price Decreased | |||
| Jun 19, 2026 | Price Decreased |
$679,000
↓ $10K
(1.5%) | |
| Price Decreased | |||
| Jun 1, 2026 | Listed by BHHS Hudson Valley Properties | $689,000 | |
| Listed by BHHS Hudson Valley Properties | |||
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About Putnam
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017