605 Cedar Drive
About This Property
Outside, a gunite, heated, saltwater pool complements the cedar-shingled accessory structure, which combines a pool house with its own bathroom, a garage, a covered outdoor patio with a gas fireplace, and an outdoor shower. Back inside, two additional guest bedrooms share a full bath on the second floor, while downstairs, two large recreation rooms offer further customization and flexibility.
The location is just as compelling as the house itself, minutes from Goose Creek Beach, Cedar Beach, Croteaux Vineyards, and the many shops and restaurants of Southold Hamlet. This is a special property with a real point of view that you'll look forward to returning to each time you come home.
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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 |
|---|---|---|---|
| Oct 9, 2026 | Price Decreased |
$2,395,000
↓ $300K
(11.1%) | |
| Price Decreased | |||
| Jul 28, 2026 | Listed by Compass Greater NY LLC | $2,695,000 | |
| Listed by Compass Greater NY LLC | |||
| Jun 9, 2025 | Sold | ||
| Sold | |||
| Apr 22, 2025 | In contract | - | |
| In contract | |||
| Apr 1, 2025 | Listed by Compass Greater NY LLC | $950,000 | |
| Listed by Compass Greater NY LLC | |||
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Tucked away on a lush .70-acre property, this inviting Cape-style home offers a serene escape with a sprawling backyard, old-growth specimen trees, mature hedges, and perenial plantings. The warm and welcoming living room, anchored by a wood-burning fireplace, flows seamlessly into the dining room, which opens to a lovely slate side porch—perfect for outdoor dining or morning coffee. The bright and airy kitchen features custom cabinetry and overlooks the expansive lawn, creating a picturesque backdrop for everyday living. The first floor boasts two generously sized bedrooms, complemented by a beautifully updated full bath. Upstairs, two charming guest bedrooms share another spacious, fully renovated bath. A full basement provides ample storage and the potential for future expansion. This North Fork retreat is a rare opportunity—don’t miss your chance to experience it first-hand.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017