304 MISSISSIPPI AVE
About This Property
As you climb the stairs to the top floor, note the new hardwood treads and the convenience of a washer/dryer tucked away off the upper hallway that is flooded with light from a skylight window. The extra-large owner's suite is very special, with a cathedral ceiling, and an updated en-suite, marble-tiled bathroom with a spacious walk-in shower, and very own private deck - set in the trees. Morning coffee on days off just got better here. The floors here are new oak hardwood and the paint is new throughout the house. There's a new ceiling fan light and there are ceiling fans in the kitchen, living room, and all the upper bedrooms). There are two wall safes in the rear of the owner-suite closet. The two other well-sized bedrooms have new carpeting and an unusually large amount of closet space. The upper hallway and all bedrooms have custom bookshelves. Many more custom-built shelves are on the main and lower levels! If you love books, you will want this house! There's also another updated upper-level hall bathroom with a tub/shower. Step downstairs to the rear patio level and there is a full bath with tub/shower, a 4th BR/Office leading to a separate side entrance (in-law suite potential), and a big Recreation Room with more custom shelving and a level walk-out to the lower-level patio via sliding glass doors. There's a utility room with additional refrigerator/freezer and storage shelving. A spacious wooden deck off the main level is ready for your next BBQ or birthday party.
There's parking for 2 cars under the front carport and another 3rd car to the left of that, and you can add a couple more in the driveway for parties. A big storage shed is usefully placed at the back of the carport, and there is an enclosed structure for trash cans across the driveway. Economical gas heating is combined with electric Central Air Conditioning and the water heater is almost new. This is a low maintenance treed yard with no grass cutting needed - just once a year leaf cleanup. The park below us an extension of your yard! Stroll to the entrance of the cul-de-sac and you are in Sligo Park with miles of trails, yet you can walk to Takoma Park City Town Hall and Library. Schools are nearby. Takoma Metro Station is a little over a mile away, along with Old Town restaurants and shops. It's a short trip to Silver Spring Whole Foods and restaurants too. This home is an easy commute to downtown Washington, DC, the University of Maryland, Washington Adventist University, the I-495 Beltway, and I-95, along with all points in Bethesda.
This striking and unusual home has been carefully updated by the original owner who is ready to pass it to a new owner who loves a setting in nature with the convenience of close-in living and great neighbors. It's a must-see! Open Houses Friday 9/6 6 pm to 7:30 pm, Sat., 9/7 2-4 pm, Sunday 9/8 1-4 pm
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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 |
|---|---|---|---|
| Oct 18, 2024 | Sold | ||
| Sold | |||
| Sep 18, 2024 | In contract | - | |
| In contract | |||
| Sep 5, 2024 | Listed by Long & Foster Real Estate, Inc. | $895,000 | |
| Listed by Long & Foster Real Estate, Inc. | |||
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About Takoma - DC
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017