7531 W Pierce Drive
About This Property
Picture your mornings on a covered wraparound front porch with a cup of coffee, watching the light come up over Cherokee Lake. That is the pace of life here. The home itself is built for people who want space to spread out -- there is a formal living room, a formal dining room, a den, and a main-level bedroom with a full bath, which works perfectly for guests, in-laws, or anyone who needs to stay on one floor. Upstairs, the primary suite feels genuinely private. The bedroom is large and calm, and the closet is the kind of closet people fall in love with -- it runs room-size with full shelving systems and has the washer and dryer tucked right inside, so laundry never has to leave the suite.
The kitchen is the real heart of this home. It has a GE Cafe induction double oven, a Bosch dishwasher, white cabinetry with glass-front uppers, tile countertops, hardwood floors, and a casual dining area surrounded by windows. It opens to the backyard, where a fenced inground pool with a newer liner gives you a private outdoor retreat all summer long. The vinyl privacy fence is new and keeps the pool area feeling like your own backyard oasis.
The basement adds finished flex space for a game room, media room, or extra storage, plus garage access. Between the main level and lower level, there is approximately 1,200 square feet of garage space -- plenty of room for vehicles, lake gear, and all the equipment that comes with lake living.
You are a short drive from Morristown with groceries, dining, and healthcare close by. Recent updates include a replaced pool liner, a new water heater, and heat pump conversion from gas to electric -- meaning the major systems have already been taken care of. Septic permit is for 3 bedrooms.
Listed By
Payment Calculator
Your Estimated Monthly Payment
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 |
|---|---|---|---|
| Oct 4, 2026 | Price Decreased |
$659,000
↓ $41K
(5.8%) | |
| Price Decreased | |||
| Jun 7, 2026 | Listed by ReMax Real Estate Ten | $699,900 | |
| Listed by ReMax Real Estate Ten | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017