42795 Paynes Lake Camp Rd, Theresa, NY, 13691
About This Home
Welcome to your private Payne Lake compound — a rare waterfront retreat offering luxury, space, and unmatched versatility. Set on an incredible 600 feet of pristine waterfront with your own private boat launch, this one-of-a-kind property delivers the ultimate lakefront lifestyle with room for everyone .The main residence features 3 bedrooms and 3.5 baths, thoughtfully designed with comfort and style in mind. At the heart of the home is a breathtaking chef’s kitchen equipped with a premium Wolf gas stove, perfect for entertaining. The home also boasts a stunning custom bar area with stonework and reclaimed barn board accents, creating a warm, rustic elegance that perfectly complements the lake setting. In addition to the main home, the property also includes A charming 2-bedroom cabin, A spacious guest house offering 2 bedrooms and 2 full baths ,Both additional residences feature Spectacular lake views, providing ideal accommodations for guests, extended family, or potential rental income. The compound is complete with a massive garage featuring a wash bay, bathroom, and bonus room, offering endless possibilities for storage, hobbies, or workspace. Additional highlights include: Whole-property generator systems for peace of mind Expansive grounds offering privacy and room to roam Multiple structures ideal for a family retreat or investment opportunity Whether you're seeking a luxury getaway, multi-generational retreat, or income-producing property, this exceptional Payne Lake compound delivers it all. Opportunities like this are incredibly rare—experience lakefront living at its finest.
Getting Around
Car-Dependent
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Property condition: Resale
- Year built: 2019
Materials
- Foundation: Poured
- Roof: Asphalt,Metal,Shingle
- Construction materials: Aluminum Siding,Frame,Shake Siding,Stone,Spray Foam Insulation,Vinyl Siding,PEX Plumbing
Type & Style
- Home type: SingleFamily
- Architectural style: Cabin,Contemporary
- Property subType: Single Family Residence
Interior
Appliances
- Appliances included: Dryer,Dishwasher,Exhaust Fan,Gas Cooktop,Gas Oven,Gas Range,Microwave,Propane Water Heater,Refrigerator,Range Hood,Tankless Water Heater,Wine Cooler,Washer,Water Purifier Owned,Water Softener Owned
- Laundry features: Main Level
Basement
- Has basement: Yes
- Basement: Full,Finished,Walk-Out Access
Bedrooms & Bathrooms
- Bedrooms: 7
- Bathrooms: 8
- Full bathrooms: 7
- 1/2 bathrooms: 1
- Main level bathrooms: 5
- Main level bedrooms: 4
Features
- Wet Bar,Ceiling Fan(s),Dining Area,Dry Bar,Den,Separate/Formal Dining Room,Separate/Formal Living Room,Guest Accommodations,Granite Counters,Kitchen Island,Partially Furnished,Sliding Glass Door(s),Bar,Bath in Primary Bedroom,Main Level Primary,Workshop
- Door features: Sliding Doors
- Flooring: Ceramic Tile,Hardwood,Varies
- Number of fireplaces: 5
- Fireplace: Yes
Heating & Cooling
- Heating features: Ductless,Heat Pump,Propane,Radiant Floor,Radiant
- Cooling features: Ductless,Heat Pump,Central Air,Zoned
Interior Area
- Total structure area: 2,016
- Total interior livable area: 2,016 sqft
Property
Details
- Parcel number: 2224890170090001006000
- Special condition: Standard
- Other equipment: Generator
Features
- Patio & porch: Balcony,Deck
- Exterior features: Balcony,Concrete Driveway,Deck,Dock,Gravel Driveway,See Remarks
- On waterfront: Yes
- Waterfront features: Beach Access,Dock Access,Lake
- Waterbody name: Payne Lake
- Frontage length: 600
Lot
- Lot size: 5 Acres
- Features: Irregular Lot,Rural Lot
- Lot size dimensions: 135 x 194
Parking
- Total spaces: 10
- Parking features: Detached,Garage,Heated Garage,Storage,Workshop in Garage
- Has garage: Yes
- Attached garage spaces: 10
- Covered spaces: 10
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Inland Flooding
- Winter Weather
- Cold Wave
- Ice Storm
- Strong Wind
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters in Jefferson County and New York
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $12,640 | $151,680 |
| Home Insurance * | $1,089 | $13,068 |
| Property Taxes | $2,749 | $32,988 |
| Electricity | $333 | $3,997 |
| Total | $16,811 | $201,732 |
Income You'd Need if You Spent...
New York FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-17 | Listed for sale | $2,499,900 |
| 2025-10-25 | Listing removed | $1,250,000 |
| 2025-09-30 | Price change | $1,250,000 |
| 2025-05-27 | Price change | $2,300,000 |
| 2025-04-24 | Price change | $1,250,000 |
| 2025-03-21 | Listed for sale | $2,500,000 |
| 2024-12-29 | Listing removed | $2,500,000 |
| 2024-06-29 | Listed for sale | $2,500,000 |
| 2016-11-28 | Sold | $120,000 |
| 2014-01-10 | Sold | $27,500 |
View on Zillow