971 FOREST DRIVE
About This Property
Unlike many waterfront properties exposed to constant boat traffic and prevailing winds, Lake Placid offers a uniquely peaceful setting. Here, calm waters create the ideal environment for paddleboarding, kayaking, swimming, fishing, and crabbing directly from your own dock, while a one-minute boat ride places you on the open waters of the Magothy River. Eastern exposure welcomes spectacular sunrises each morning, creating an ever-changing backdrop enjoyed from the home's waterfront decks and outdoor living spaces.
Adding to its rarity, the property includes two independent residences. The main home offers four bedrooms and two full baths, providing generous living space ready to enjoy today or thoughtfully reimagine over time. Complementing the main residence is a beautifully constructed guest house completed in 2019, featuring modern finishes and timeless coastal design. Whether serving as private accommodations for extended family, an exceptional guest retreat, a home office, or flexible multigenerational living, the possibilities are remarkably versatile.
The fully fenced property, complete with a gated entrance, provides an exceptional sense of privacy while remaining conveniently located near the everyday conveniences of Arnold and Annapolis. Residents also enjoy access to the highly regarded Broadneck school district, nearby waterfront dining, marinas, and the vibrant boating lifestyle that defines Maryland's Chesapeake Bay.
Just a short stroll from the property, the community's sandy beach offers additional waterfront amenities including a boat ramp, picnic areas, grills, and sweeping views of the Magothy River.
Waterfront properties offering this combination of protected deepwater enjoyment, immediate river access, expansive grounds, and two separate residences are seldom available. 971 Forest Drive represents an opportunity to enjoy the Chesapeake lifestyle in a setting that is as peaceful as it is exceptional.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017