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306 LOCUST AVENUE
About This Property
Tucked into Bluff Point, this charming 2-bedroom, 2-bath cottage blends original character with the kind of space and layout that just works. Inside, you'll find original hardwood floors, a separate dining room (or flex space if you need it), and a large country kitchen that's ready for real life-complete with stainless steel appliances, gas range, and a prep sink that makes cooking feel a little more fun and a lot more functional.
Just off the kitchen, the family room is where everyone ends up-anchored by a cozy wood pellet stove that makes this space feel warm and inviting year-round.
The guest bedroom sits next to an oversized full bath with a jacuzzi tub and separate shower, giving it a tucked-away, suite-like feel for visitors. On the other side of the home, the primary bedroom offers its own private bath and walk-in closet-simple, comfortable, and just the right amount of space.
But honestly... the backyard is what steals the show.
Crape myrtles line the lot, giving you that soft, seasonal color and a sense of privacy. The yard itself feels more like a park than a typical backyard-with room to spread out, entertain, garden, or just enjoy being outside. Multiple storage sheds and alley access add flexibility, and the detached garage (fully finished, heated and cooled) opens the door for a workshop, studio, gym... whatever fits your life.
And when you're ready to head out? Hop on your golf cart and you're minutes to downtown Colonial Beach-restaurants, shops, coffee, the boardwalk, and the beach.
This one isn't trying to be flashy... it just quietly checks all the boxes and then gives you a backyard you won't want to leave.
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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 |
|---|---|---|---|
| May 27, 2026 | Sold | ||
| Sold | |||
| May 10, 2026 | In contract | - | |
| In contract | |||
| Apr 19, 2026 | Listed by Coldwell Banker Elite | $325,000 | |
| Listed by Coldwell Banker Elite | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017