1546 RIDGELY DRIVE
About This Property
Welcome to this beautifully updated single-family home offering modern finishes and coastal charm. Completely renovated from top to bottom, this home features a brand-new roof and HVAC system, ensuring comfort and peace of mind. Inside, enjoy all-new hardwood flooring throughout, fresh trim, and stylish new light fixtures that create a bright, inviting atmosphere.
The stunning kitchen has been fully redesigned with new cabinetry, stainless steel appliances, quartz countertops, and a convenient breakfast bar seating. The home offers three well-appointed bedrooms and two fully renovated bathrooms with contemporary finishes.
The finished basement provides a versatile recreation room offering additional living space. Step outside to the newly added deck overlooking a spacious .29-acre lot-perfect for outdoor gatherings or relaxing after a day by the water. A new washer and dryer complete this move-in-ready home.
Enjoy the rare opportunity to live just steps from the Chesapeake Bay in a fully renovated home that blends modern comfort with an unbeatable location.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 25, 2026 | Sold | ||
| Sold | |||
| May 18, 2026 | In contract | - | |
| In contract | |||
| May 2, 2026 | Price Decreased |
$550,000
↓ $25K
(4.4%) | |
| Price Decreased | |||
| Mar 27, 2026 | Price Decreased |
$575,000
↓ $25K
(4.2%) | |
| Price Decreased | |||
| Mar 25, 2026 | Listed by RE/MAX Realty Group | $600,000 | |
| Listed by RE/MAX Realty Group | |||
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About Mayo
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017