7838 STATE ROAD 21
About This Property
Looking for a home with potential that you can truly make your own? This solid concrete-block residence in Lakeview Highlands offers more than 2,000 sq ft of living space with 3 bedrooms and 2 bathrooms - plus a detached 650 sq ft guest house currently rented, making this a perfect mother-in-law suite or income-generating rental opportunity. The guest house provides ongoing income as you renovate, giving you flexibility and time to add your personal touches. Enjoy peaceful lake views and a great Clay County location close to schools and the downtown district. With no HOA or CDD fees, this property offers both freedom and flexibility. Once fully renovated, the potential value of this property could exceed $325,000 - an excellent upside for investors or buyers looking to build equity. Don't miss your chance to invest smartly and put your own stamp on this unique property!
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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 |
|---|---|---|---|
| Jan 5, 2026 | Sold | ||
| Sold | |||
| Dec 12, 2025 | In contract | - | |
| In contract | |||
| Dec 8, 2025 | Price Decreased |
$210,000
↓ $5K
(2.3%) | |
| Price Decreased | |||
| Dec 1, 2025 | Relisted | $215,000 | |
| Relisted | |||
| Nov 18, 2025 | In contract | - | |
| In contract | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017