651 Lakes Road
About This Property
Listed By
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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 |
|---|---|---|---|
| Jun 17, 2026 | Listed by Howard Hanna Rand Realty | $900,000 | |
| Listed by Howard Hanna Rand Realty | |||
| Oct 16, 2025 | No longer available | - | |
| No longer available | |||
| Jul 18, 2025 | Price Decreased |
$874,900
↓ $25K
(2.8%) | |
| Price Decreased | |||
| Mar 15, 2025 | Price Decreased |
$899,900
↓ $99K
(9.9%) | |
| Price Decreased | |||
| Jan 15, 2025 | Listed by Howard Hanna Rand Realty | $999,000 | |
| Listed by Howard Hanna Rand Realty | |||
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Rare opportunity to purchase this breath taking one of a kind estate in Monroe that consists of three homes nestled on 3.5 stately landscaped acres affording you peace and privacy! Surrounded by the original stone walls of this compound, this unique oasis offers a huge 50,000-gallon gunite in-ground pool with Italian glass tile, patios overlooking the gorgeous park-like grounds, and a new tennis/pickleball/basketball sports court. The 1st/main residence unfortunately had fire damage and will need to be renovated/rebuilt. The owner was going to rebuild but never got to it. The 2nd residence called the “stone cottage” has 2 fieldstone fireplaces, a full kitchen, a vaulted ceiling in the bedroom, a washer/dryer, and a full bath. The 3rd residence is called the “white cottage” and sits atop the highest point on the property. This charming cottage has 2/3 bedrooms, a large kitchen, a full bath, and a new 400 sq ft Trex deck with custom railings that is totally private to enjoy the 3.5 acres of trees and woods. Perfect opportunity to keep family close or rent out the additional homes and have the property pay for itself. The property has all this to offer, lake rights and it is located in the sought after Village of Monroe near Mill Pond with Monroe-Woodbury Schools. Great location, close to restaurants, quaint boutiques, farmers markets, wineries, shopping, state parks, 50 miles to NYC, near 84, 87, 17, Metro North/ NJ Transit & buses to NYC, Stewart & West Point. Schedule to see it now, this one will not last.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017