1049 OMAR DRIVE
About This Property
Enjoy peace of mind with a brand-new architectural roof (2025), new HVAC with heat pump (2025), new A/C (2025), and the septic system has had some updates and has a clean bill of health. Inside, you'll find refinished hardwood floors, fresh paint, updated lighting, and an open, inviting layout. The kitchen features white cabinetry, quartz countertops, stainless steel appliances, and modern finishes-perfect for everyday living and entertaining.
The finished lower level provides flexible space for a family room, home office, or guest area. Step outside to a three-season porch overlooking a large, deep, partially wooded lot, offering privacy, shade, and room to enjoy the outdoors year-round.
Located in a water-privileged community with beach access, pier access, and kayak/canoe launch, this home combines modern updates with a relaxed Chesapeake lifestyle-all within easy reach of Annapolis, Baltimore, and major commuter routes.
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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.
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About Arden on the Severn
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017