2311 MICHIGAN AVENUE
About This Property
Payment Calculator
Your Estimated Monthly Payment
Cap Rate Calculator
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 |
|---|---|---|---|
| Apr 30, 2025 | Sold | ||
| Sold | |||
| Apr 12, 2025 | In contract | - | |
| In contract | |||
| Mar 21, 2025 | Listed | $599,000 | |
| Listed | |||
| | |||
|
Welcome to 2311 Michigan Avenue, a delightfully unassuming, 3 BR/3BA home, with wood floors, front porch, back deck, and a deep level lot. At first glance, this charming home may seem like a cozy cottage, but step inside, and you’ll be amazed--this 3-level home is nearly 2,850 sq. ft. of untapped potential. The main level has a combination LR/DR, a gas FP, a large kitchen that opens to the deck, 2BRs and 1BA. The upper level is a primary suite BR w/BA, and extra large closet/storage space. There is also an attic space. The lower level has a full BA, storage space, W/D, and opens to the backyard. Situated on a flat and expansive 7,500 sq. ft. lot, this property is a true hidden gem with endless possibilities. Though modest in appearance, this older, well-built home offers a solid foundation for your vision. This property offers endless potential—whether you're looking to live in, renovate, or add an Accessory Dwelling Unit (ADU) for rental income. Located in a strategically located neighborhood just minutes from Downtown Silver Spring, with easy access to public transport, major roads, and nearby shopping and dining, it's a prime investment opportunity. With strong property value growth in Silver Spring and proximity to job centers in DC, Bethesda, and Northern Virginia, this home delivers both comfort and financial upside.
| |||
| Jun 23, 1997 | Sold | ||
| Sold | |||
Property Highlights
Building Info
Comparables
Status
Price/ft²
Listed On
Sold On
About Silver Spring
Similar Homes for Sale
Currently no similar homes aroundNearby Rentals
$4,300 /mo
- 5 Beds
- 4 Baths
- 2,888 ft²
$4,200 /mo
- 3 Beds
- 3 Baths
- 2,576 ft²
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017