5407 Edgewater
About This Property
This property features a two-story dock on deep water, complete with boat and PWC lifts, an extra-long swim platform, outdoor shower, and a fish-cleaning station. The home's Boral roof, stucco exterior, and courtyard add to its distinctive appeal. Inside, the open great room, dining area, breakfast room, and kitchen all showcase breathtaking lake views. A soaring 20' floor-to-ceiling stone fireplace and hand-scraped wood flooring create warmth and character. Architectural details include wood-lined beamed ceilings, stone arches, and abundant custom cabinetry with glass fronts. Rare, exquisitely cut Taj Mahal Quartzite countertops with a striking backsplash & travertine flooring highlight multiple areas of the home. Wide doorways and accessible showers add comfort and convenience. The lakeside outdoor patio has an outdoor kitchen and a place for outdoor entertaining. The home offers three en-suite bedrooms plus a bunk room, ideal for guests. The primary suite has a coffee bar, double walk-in closets, an indoor and outdoor balcony to enjoy your peace & quiet before you start your day. An insulated 33' x 40' shop provides ample space for a boat, motorhome, tools, and recreational equipment. It features two 12' x 16' overhead doors plus a rear door opening to a covered patio. The 17' x 40' second floor is insulated and ready to finish into additional guest quarters, complete with its own deck Additional highlights include: Whole-house water filtration system, Two hot water systems, including one on-demand, Multiple utility sinks, Shop pre-plumbed for a bathroom, Hidden concrete-lined safe room for valuables and storm protection, Space allocated for a future elevator if desired. This property is designed for both everyday luxury and lakeside adventure.
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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 |
|---|---|---|---|
| Jan 14, 2026 | Sold | ||
| Sold | |||
| Dec 20, 2025 | In contract | - | |
| In contract | |||
| Sep 11, 2025 | Listed by RE/MAX Elite Group | $2,500,000 | |
| Listed by RE/MAX Elite Group | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017