123 SPRUCE LANE
About This Property
This stunning home has been fully transformed from top to bottom. Everything has been replaced-including a brand-new roof, HVAC system, hot water heater, water conditioning system, radon mitigation system, windows, flooring, and more. Simply put, they didn't miss a thing.
The gourmet kitchen anchors the home with an open-concept design that flows seamlessly into the family and dining rooms-perfect for entertaining and everyday living. Walls were thoughtfully reconfigured to create a bright, open floor plan designed for today's lifestyle. The main-level family room features a cozy fireplace and beautifully restored custom built-in bookcases, preserving the character of the home while blending modern style.
The primary suite is a true retreat, featuring a newly added walk-in closet and a luxurious, fully renovated bath with double vanities. Two additional beautifully renovated full baths, including a guest bath with double sinks, offer both style and convenience.
The lower level is now fully finished and ready to be enjoyed, offering a second fireplace, recreation room, bedroom, and a nicely renovated full bath-ideal for guests, extended family, or additional living space.
An abundance of natural light fills the home, thanks to new windows throughout, a stunning bay window at the front, and a private rear-corner office surrounded by windows on all sides-an ideal work-from-home space.
Outside, the lot has been professionally cleared and refreshed, with weeds and dying trees removed and new plantings added, leaving a clean slate for new owners to personalize the outdoor space to their liking.
Additional features include a large two-car garage with new doors and openers, adding both convenience and storage.
This exceptional renovation was designed and executed by Frame House, known for creating homes tailored to today's busy, active lifestyles-perfect for entertaining, hosting, and everyday comfort.
All of this is located within the waterfront community of Hillsmere Shores, offering a private beach and playground, two marinas with boat launches, over 100 boat slips, kayak racks and launches, and a community pool (membership subject to availability). The entrance to Quiet Waters Park is within walking distance, and Downtown Annapolis-with its dining, shopping, and waterfront charm-is just minutes away.
This is a rare opportunity to own a fully renovated, move-in-ready home in one of Annapolis' most beloved communities. A truly special property that will not last long.
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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%.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Feb 19, 2026 | Sold | ||
| Sold | |||
| Jan 14, 2026 | Listed by Academy Realty Inc. | $819,000 | |
| Listed by Academy Realty Inc. | |||
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About Hillsmere Shores
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017