935 Blue Heron Way #LOT16
About This Property
A storage building provides space for lake gear, tools, outdoor furniture, fishing supplies, or weekend essentials, while the open grassy lot offers room to relax and make the space your own. Located on an interior lot with private asphalt road access, this property is tucked inside a community designed for low-maintenance enjoyment near the water.
Pelican Isle brings the fun with an impressive list of amenities, including a boat ramp, community dock, clubhouse, community pool, laundry facilities, fishing areas, park, playground, gated access, and RV parking. Spend your days boating, fishing, swimming, visiting with neighbors, or simply soaking up the laid-back lake atmosphere. With Richland-Chambers Lake just moments away, this is a great opportunity to own an affordable piece of lake-area living in Navarro County.
Whether you are looking for a weekend escape, recreational basecamp, or investment opportunity, this Pelican Isle lot is ready for your next chapter at the lake! Exciting news, the lot right next to it, Lot 17 (MLS # 21307784) is also currently available. So snatch up both of them for twice the lake life leisure!
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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 19, 2026 | Listed by RE/MAX Lakeside Dreams | $45,000 | |
| Listed by RE/MAX Lakeside Dreams | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017