117 SPA VIEW AVENUE
About This Property
Upstairs, the spacious primary suite includes cathedral ceilings, a gas fireplace, soaking tub, walk-in closet, and an adjoining office/flex space with private waterfront balcony. Additional highlights include a guest suite with balcony, third-floor studio/office, and separate in-law or nanny quarters with full bath, kitchenette, and private entrance. A large mudroom with multiple closets, laundry area, and half bath connects to the oversized two-car garage.
Recent upgrades include an architectural-grade roof (2023), resurfaced Dryvit exterior (2023), two new hot water heaters (2025), encapsulated crawl spaces (2025), new smoke detectors (2025), and a whole-house generator. Exceptional waterfront living just minutes from downtown Annapolis.
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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 Annapolis
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017