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182 WALDO ROAD
About This Property
An exceptional waterfront redevelopment opportunity on nearly three-quarters of an acre in Pasadena.
The existing home is considered a tear-down, creating a rare chance to build a custom waterfront residence tailored to your vision. What sets this property apart is that many of the most expensive waterfront improvements are already in place.
The property features a substantial private pier that was constructed in 2022, including multiple slips, providing immediate access to the water and saving a future owner the time, expense, and permitting process associated with new marine construction.
In addition, the property includes Anne Arundel County-approved septic plans for a new residence of approximately 2,500 square feet, approved in April 2026.
Property Highlights:
✅ .72-acre waterfront homesite
✅ Existing pier built in 2022 featuring:
50' x 6' pier
10' x 20' L-head
Multiple finger piers
Additional mooring pilings
(Originally constructed at a cost of approximately $62,900.)
✅ County-approved septic design for a new 2,500± sq. ft. home
✅ Existing approvals help streamline the path to construction
✅ Rare opportunity to create a custom waterfront retreat in Pasadena
Whether you're a builder, investor, or buyer seeking the perfect waterfront homesite, 182 Waldo Road offers the chance to start with valuable infrastructure already in place and focus on designing the home you've always wanted.
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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 17, 2026 | Listed by Next Step Realty, LLC. | $650,000 | |
| Listed by Next Step Realty, LLC. | |||
| Jan 21, 2021 | Sold | ||
| Sold | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017