56 Lake Shore Drive
About This Property
Premium Interiors: Brand-new kitchen with stone countertops, stainless appliances, and laundry.
Designer Bath: Spa-inspired finishes and all-new fixtures.
Key Features: Updated electrical, private driveway, and a basement for extra storage.
Location: Serene lakefront street-no flood insurance required.
Unrivaled Value & Investment Potential: At $399,999, this residence represents the premier entry point for a fully reimagined home in Patchogue. Beyond its individual charm, it offers a strategic opportunity for the sophisticated investor or homeowner: this property can be acquired in tandem with the expansive 5+ bedroom estate at 60 Lake Shore Drive. This rare side-by-side offering allows you to curate a private lakeside compound in one of Long Island's most resilient markets-a legacy acquisition that is seldom available in a single transaction
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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| Sep 29, 2026 | Withdrawn | - | |
| Withdrawn | |||
| Aug 1, 2026 | Listed by RMC Empire LLC | $400,000 | |
| Listed by RMC Empire LLC | |||
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|
A Rare Side-by-Side Investment Opportunity. While exceptional on its own, this property becomes truly extraordinary when purchased together with the neighboring residence at 60 Lake Shore Drive. The adjoining home is an expansive 6+ bedroom estate featuring:
Fully finished basement
Private sauna
Three full bathrooms
Two oversized living rooms
Spacious entertaining areas
Impressive backyard ideal for gatherings, recreation, or future possibilities.
Together, these two properties create an unparalleled lakeside compound; perfect for multigenerational living, extended family, guest accommodations, luxury rental income, or a savvy investment portfolio. Opportunities to acquire two adjacent properties in one transaction are exceptionally rare, offering flexibility, privacy, and long-term value in one of Long Island's most desirable and resilient markets.
Whether you're looking to purchase this beautifully renovated cottage on its own or capitalize on the unique opportunity to own both residences, this is a one-of-a-kind offering with endless potential.
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| Jul 10, 2026 | In contract | - | |
| In contract | |||
| Apr 29, 2026 | Listed by RMC Empire LLC | $399,999 | |
| Listed by RMC Empire LLC | |||
| Jan 22, 2026 | Sold | ||
| Sold | |||
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About Patchogue
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Data Source: OneKey MLS
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