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28 Lake Dr, Shelter Island, NY, 11964

3beds
3baths
2,299sqft
$3,250,000
$1,414price/sqft
$18,962/moest. monthly cost
$758,480/yrincome needed

About This Home

Set on 1.19A± acres overlooking Fresh Pond, this traditional offers privacy, an elevated position overlooking the water, and southwest-facing light with sunset views. Largely hidden from the road, the property enjoys a quiet setting above one of Shelter Island's treasured glacial freshwater ponds. A gravel circular drive approaches the cedar-shingled façade, framed by established landscaping and gabled rooflines. The interior has been updated in 2026, including refinished floors, renovated bathrooms, refreshed exteriors and freshly painted interiors. A gracious entry is framed by a covered porch and a central Palladian-style window above the front door, bringing natural light into the foyer and halls. The double-height living room is imbued with natural light from a wall of windows and glass doors, creating an open yet grounded gathering space centered on a fireplace with custom built-ins. Above, a connecting balcony spans the room, linking the upper level while maintaining a sense of separation between the bedroom wings. The kitchen includes a center prep island and a breakfast bar, with an adjacent dining area facing the pond. A laundry room and powder room are set just off the kitchen, with convenient access to the attached two-car garage. The first-floor primary bedroom includes a renovated bath and walk-in closet. Upstairs, two additional bedrooms reflect the home's architecture, with varied ceiling lines that add dimension. The lower level has a finished office with separate entrance and an unfinished area with waterside windows that are ready for finishing. Outdoor amenities include a hot tub overlooking the water and a screened gazebo positioned for relaxed afternoons or casual gatherings. A path leads down to the pond and dock, offering access to the shoreline and the surrounding landscape.

Getting Around

12
WalkingCar-Dependent
0
TransitVery Limited Transit
26
BikeSomewhat Bikeable

Schools

6/10
Shelter Island SchoolGrades PK-120.6 mi

Construction

Condition

  • Year built: 1998

Type & Style

  • Home type: SingleFamily
  • Property subType: Single Family Residence

Interior

Basement

  • Has basement: Yes
  • Basement: Yes

Bedrooms & Bathrooms

  • Bedrooms: 3
  • Bathrooms: 3
  • Full bathrooms: 2
  • 1/2 bathrooms: 1

Cooling

  • Cooling features: Central Air

Features

  • Fireplace: Yes

Interior Area

  • Total structure area: 2,299
  • Total interior livable area: 2,299 sqft

Property

Details

  • Parcel number: 0700019000100102000

Features

  • Stories: 2
  • Private pool: Yes
  • Has spa: Yes
  • Spa features: Heated
  • Has view: Yes
  • View description: Water
  • Has water view: Yes
  • Water view: Water

Lot

  • Lot size: 1.19 Acres

Parking

  • Parking features: GarageAttached
  • Has garage: Yes

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

  • Coastal Flooding
    Coastal FloodingRelatively High
  • Hurricane
    HurricaneModerate
  • Inland Flooding
    Inland FloodingModerate
  • Winter Weather
    Winter WeatherModerate
  • Tsunami
    TsunamiInsufficient Data

How This Home’s Risks Compare

Coastal Flooding
Hurricane
Inland Flooding
Winter Weather
Tsunami

FEMA Declared Disasters in Suffolk County and New York

Flood
Severe Storm
Snowstorm
Straight Line Winds
Tropical Storm
Winter Storm

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

MonthlyAnnual
Mortgage $16,433$197,196
Home Insurance *$836$10,032
Property Taxes $1,314$15,768
Electricity $379$4,559
Total$18,962$227,544
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$650,125/yr
40% on housing$568,860/yr
45% on housing$505,653/yr

New York FAIR Plan Programs

New York Property Insurance Underwriting Association

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →
Current Policies
Residential: 20,669Commercial: 1,556
Total Premiums$32.27M
Total Exposure$7.63B

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.

Insurance Growth Rate5-year average: 4.6%
4.6%
0%30.0%
Electricity Growth Rate10-year average: 7.1%
7.1%
0%15.0%
Property Taxes Growth Rate2-year average: 1.0%
1.0%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$1,414This listing

vs Other Active Listings

Avg $/sqft

ZIP 11964$1,520
Suffolk County$723

vs Homes Sold Last Month

Median $/sqft

ZIP 11964$1,656
Suffolk County$412

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

DateEventPrice
2026-04-02Listed for sale$3,250,000
2023-09-05Listing removed--
2023-03-17Listed for rent$33,000
2023-03-16Listing removed--
2023-03-12Price change$33,000
2022-11-08Listed for rent$36,666
2022-01-01Listing removed--
2021-09-13Price change$15,100
2021-09-09Price change$7,550
2021-07-01Price change$15,100
2021-01-04Price change$26,800
2020-11-02Price change$26,000
2020-01-25Price change$23,333
2019-10-21Price change$26,400
2019-08-01Listed for rent$13,200
2019-04-22Listing removed$6,600
2018-12-14Price change$6,600
2018-11-17Price change$13,800
2018-07-09Price change$13,000
2018-06-02Price change$7,000
2018-05-10Price change$20,000
2017-09-09Price change$28,000
2017-09-02Listed for rent$13,000
2017-06-28Listing removed$13,000
2017-06-14Listed for rent$13,000
2015-01-16Sold$1,560,000
1997-05-28Sold$157,000

For Sale by Agent

AgentPenelope Moore - Associate Real Estate Broker
BrokerageSaunders & Associates

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