178 CHELSEA RD
About This Property
Upstairs you'll find two additional bedrooms, each boasting plush carpeting and vaulted ceilings. One of the bedrooms features built-in storage and custom "Brady Bunch" bed platforms, offering both functionality and charm. The updated bathroom on this level has a tub shower and adds convenience to the bedrooms.
The lower level of the home features its finished basement, with tile floors, a second kitchen that adds convenience and versatility, and a workshop area that provides space for DIY projects or hobbies. You can also access the greenhouse from this level.
Outside, there is a spacious yard, perfect for gardening, games, and entertaining. The brick driveway offers space for two plus cars. This home is situated on a quiet street within Riviera Beach, a water-privileged community. There is an active voluntary community association (Riviera Beach Residents Council) whose dues ($35/yr) give you access to community-owned properties, the beach, playgrounds, and a fishing pier. There is an optional $70 fee for access to the boat ramp. Deep water - boat docking at the marina is available for additional fees. Whether you enjoy boating, fishing, or simply soaking in the scenic waterfront views, this location offers endless opportunities for outdoor recreation. Its location near commuter routes such as 695, 100, and 97 ensures easy access to nearby points of interest, including shopping, dining, and entertainment options as well as to Baltimore, Annapolis, Washington DC, Ft. Meade, NSA, and Columbia. Verify school information on the Anne Arundel County Public Schools website.
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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.
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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 4, 2024 | Sold | ||
| Sold | |||
| May 15, 2024 | In contract | - | |
| In contract | |||
| May 9, 2024 | Listed by Keller Williams Integrity | $385,000 | |
| Listed by Keller Williams Integrity | |||
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About Riviera Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017