5402 Peninsula Way
About This Property
Tucked against an expansive greenbelt with views of the lake, the backyard is where this home truly shines. A sparkling private pool anchors the patio, framed by a shaded pergola, a quiet retreat where the only neighbors behind you are trees, water, and Texas sunsets.
Inside, soaring vaulted ceilings, wood-look tile, and walls of windows fill the open living and dining areas with natural light. The showstopping floral accent wall with its neon 'Hello Gorgeous' sign has made this home instantly recognizable to guests, and endlessly photogenic. The kitchen pairs warm wood cabinetry with black granite, stainless appliances, and a bay window framing the lake, while the skylit dining space seats eight with French doors opening straight to the pool.
And yes, it comes with the arcade. A dedicated game room loaded with classic arcade cabinets, air hockey, and shuffleboard has been a guest favorite for years and sets this property apart from everything else on the lake.
Spacious bedrooms include a serene king suite with sitting area and backyard access, plus a bunk room guests love. The spa-inspired primary bath features dual vanities and an oversized walk-in shower with two showerheads, a built-in bench, and a gorgeous arched stained-glass window.
Lake views, greenbelt privacy, resort-style pool, and documented short-term rental income, flexibility and lifestyle that rarely hit the market in Rockwall. Come experience it in person at the open house.
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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 1, 2026 | Sold | ||
| Sold | |||
| Sep 8, 2026 | In contract | - | |
| In contract | |||
| Aug 29, 2026 | Price Decreased |
$413,999
↓ $1
(0%) | |
| Price Decreased | |||
| Aug 16, 2026 | Price Decreased |
$414,000
↓ $5K
(1.2%) | |
| Price Decreased | |||
| Jul 13, 2026 | Listed by BLVD Group | $419,000 | |
| Listed by BLVD Group | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017