3 PARK LANE
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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%.
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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.
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 |
|---|---|---|---|
| Nov 12, 2025 | Sold | ||
| Sold | |||
| Oct 22, 2025 | In contract | - | |
| In contract | |||
| Oct 16, 2025 | Listed by Northrop Realty | $750,000 | |
| Listed by Northrop Realty | |||
| May 12, 2025 | Price Decreased |
$750,000
↓ $100K
(11.8%) | |
| Price Decreased | |||
| Oct 30, 2024 | Listed | $850,000 | |
| Listed | |||
| | |||
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Don't miss this incredible opportunity to own a charming 5 bedroom (3 in main house, 2 in apartment) ranch-style home in the highly sought-after Parkwood community in Annapolis. Tucked away at the end of a private road and backing to the serene woods and Back Creek, this property offers a unique sense of privacy and tranquility with rental opportunity. The Parkwood community is a water-privileged haven, featuring a marina with a pier, multiple docks, and a convenient waitlist system for boat slips. You'll have front-row seats to exciting events like the Blue Angels and fireworks shows, all while being just steps away from the vibrant Eastport neighborhood and a short distance to the historic Downtown Annapolis, offering shopping, dining, entertainment, and the renowned Naval Academy. This sprawling home provides main-level living at its finest, with two well-designed additions that add extra space and versatility. The attached garage is a dream, accommodating up to four vehicles and boasting a recently updated apartment on the upper level. This apartment includes a great room, 2 bedrooms, a kitchen, and a full bath, making it an ideal in-law/guest suite, a haven for midshipmen, or a rental. Inside the main home, you'll find a cozy living room with crown molding and a brick-accented fireplace, creating the perfect gathering spot. The kitchen offers upgraded stone counters, a tile backsplash, slate flooring, and a convenient breakfast table space. The adjacent dining room features a built-in cabinet and buffet, adding convenience to your dining experiences. A wonderful family room addition is flooded with natural light through its beautiful windows, creating an inviting area for entertaining and hosting holiday gatherings. The primary bedroom boasts an en-suite bath, while two additional bedrooms and a full bath round out the living quarters. The breezeway between the house and garage is a versatile space that can serve as a recreation room or provide extra storage. This house is also equipped with a storage shed and Generac generator. With the perfect blend of comfort, convenience, and opportunity in one of Annapolis's most desirable communities, don’t miss this opportunity to make this house your home. Property Updates: Carpet, paint, HVAC, baths upgraded, electric panel box, family room windows, kitchen backsplash, apartment updates, and more!
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Property Highlights
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About Annapolis
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017