16 PARK AVE
About This Property
The main level features gleaming hardwood floors, high ceilings, and a stunning gourmet kitchen that was completely renovated in 2021 with new shaker cabinetry, high-end stainless steel appliances, quartz countertops and a subway tile backsplash. Other features of this level include a wood burning stove, powder room, and a laundry room with a pantry. The 2nd level includes 3 bedrooms and 2 updated bathrooms including a spacious primary ensuite, and a large deck/balcony. As a bonus, there is a finished attic perfect for storage or a bonus room. The large backyard is fully fenced and features a deck off of the kitchen and an attached garage. All of this just minutes to MARC, the metro, 270, and everything Historic Downtown Gaithersburg has to offer!
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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 |
|---|---|---|---|
| Dec 15, 2023 | Sold | ||
| Sold | |||
| Nov 13, 2023 | Price Decreased |
$575,000
↓ $24K
(4%) | |
| Price Decreased | |||
| Nov 13, 2023 | In contract | - | |
| In contract | |||
| Oct 22, 2023 | Relisted | $599,000 | |
| Relisted | |||
| Oct 19, 2023 | In contract | - | |
| In contract | |||
Property Highlights
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About Gaithersburg
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017