7375 Open Water Point
About This Property
BUILD NOW - no waiting, no guesswork. This rare 1.03-acre lakefront lot in Nautical Shores is fully prepped and ready for construction, saving you months of time and upfront work. With utilities already installed, land cleared, and build requirements completed, you can move straight to building your lake home. What makes this property stand out is not just the size, but the usability. You'll enjoy over 4.5 acres of total usable space, including an additional 3.48 acres of protected shoreline through the Sabine River Authority, giving you privacy, natural beauty, and direct lake access without neighbors behind you.
The lot is level, cleared, and surrounded by mature hardwoods, including a remarkable centuries-old oak. When water levels recede, a natural sandy shoreline emerges, creating a unique lakefront experience rarely found in this area.
Unlike most lots, everything needed to start building has already been completed. Soil testing, survey, utilities, and site preparation are done. This eliminates months of delays, unexpected costs, and uncertainty, allowing you to focus on designing and building your home immediately.
Skip the time, hassle, and expense - this property is already prepared for construction:
Soil testing completed
Survey completed
Utility meter installed on-site
Site cleared and prepped for building
Approved sewage permitting completed
Architectural plans available
1.03-acre deeded lot
Approx. 3.48-acre leaseback (SRA)
Total usable space approx. 4.51 acres
HOA: $600-year
Optional boat slip: $500-year
SRA leaseback: approx. $50-year with permit
Dock and pier permitted (up to 150 ft, subject to approval)
Minimum build: 1,400 sq ft (single story), 1,800 sq ft (two story)
Opportunities like this - a build-ready, lakefront lot of this size and usability - are extremely limited in Nautical Shores.
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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 |
|---|---|---|---|
| Jul 20, 2026 | Sold | ||
| Sold | |||
| Jul 4, 2026 | In contract | - | |
| In contract | |||
| Apr 8, 2026 | No longer available | - | |
| No longer available | |||
| Apr 8, 2026 | Listed by Premier Legacy Real Estate LLC | $295,000 | |
| Listed by Premier Legacy Real Estate LLC | |||
| Oct 3, 2025 | Price Decreased |
$325,000
↓ $25K
(7.1%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017