228 DEWEY DRIVE
About This Property
The main level is filled with natural light and features warm hardwood floors and an open, easy flow between the living spaces. Unlike the more traditional layout, the kitchen has been opened to the living room, creating a connected space that is perfect for everyday living and entertaining. The eat-in kitchen offers granite countertops, stainless steel appliances, generous cabinetry with updated hardware, recessed lighting and a large multi-level island with bar seating and built-in wine storage. A door from the kitchen leads directly to the deck and rear yard, making outdoor dining and entertaining easy. The bedrooms on this level are served by a beautifully renovated full bath featuring custom cabinetry, open shelving and beautiful tilework throughout the shower and floor.
The finished lower level offers even more room to spread out, with a spacious family room centered around a gas fireplace, an additional bedroom and full bath. Sliding doors open directly to the patio and backyard, while unfinished space provides valuable additional storage.
The backyard is truly something special. Designed to be enjoyed, this private, fenced setting offers multiple outdoor living spaces surrounded by mature trees and thoughtfully designed landscaping. Gather on the expansive custom paver patio, dine or relax on the Trex deck, tend the raised garden beds or simply enjoy the peaceful setting. String lights add a fun ambiance in the evening, transforming the patio and deck into an especially inviting place to gather after the sun goes down. A shed provides additional storage, while established plantings and garden areas give the entire yard a welcoming, tucked-away feel.
Then there is the Admiral Heights lifestyle. This water-privileged community offers access to Weems Creek with opportunities for kayaking, fishing and swimming, along with community kayak racks and a pier. Membership in the Admiral Heights Improvement Association (AHIA) is voluntary. Separate memberships are available for the Admiral Heights Boat Club and Admiral Heights Swim Club. The Boat Club offers access to its dock and private boat slips, while the Swim Club offers a neighborhood pool and swim team - go Dolphins! All of this is just minutes from West Annapolis, Downtown Annapolis, Navy-Marine Corps Memorial Stadium, shopping and dining, with convenient access to Route 50 and I-97.
Thoughtfully improved, beautifully cared for and designed to enjoy both indoors and out, 228 Dewey Drive offers a wonderful opportunity to call Admiral Heights home.
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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 |
|---|---|---|---|
| Oct 20, 2026 | Sold | ||
| Sold | |||
| Sep 23, 2026 | In contract | - | |
| In contract | |||
| Sep 17, 2026 | Listed by Long & Foster Real Estate, Inc. | $745,000 | |
| Listed by Long & Foster Real Estate, Inc. | |||
| Sep 3, 2026 | Listed by Long & Foster Real Estate, Inc. | $745,000 | |
| Listed by Long & Foster Real Estate, Inc. | |||
| |||
| Oct 6, 2021 | No longer available | - | |
| No longer available | |||
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About Annapolis
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017