40
Map
307 INDIAN SPRING DRIVE
About This Property
Upstairs, you'll find three sunlit bedrooms and two redesigned full bathrooms with herringbone tile flooring, beadboard ceilings, and vintage style two handle hot and cold faucets. The tasteful primary bedroom offers two walk-in closets, a mini split A/C and heat system, and an en suite bathroom with a glass enclosed shower. All three bedrooms feature wood flooring, and there is a linen closet on this level.
The finished lower level has waterproof engineered wood flooring and features a recreation room with a game closet with shelving, a versatile bonus room / office with recessed lighting, a remodeled half bathroom with penny tile flooring, an under the stair storage closet, and a revamped laundry room with new flooring, a utility sink, and storage shelving.
Outdoors is a beautifully landscaped yard with a stunning Magnolia tree, blooming hydrangeas, raised garden beds, and cypress trees. The backyard has colorful plantings, stone pathways, an arched wood trellis adorned by David Austin roses, and a detached two-car garage (24' by 24') with attic storage space. This residence has benefited from numerous improvements: roof replaced (2026) with new plywood substrate, GAF Timberline HGZ shingles, and 50 year material warranty plus 10 year workmanship warranty-both transferable to new owner, replaced hot water system and new water heater (2026), new HVAC (2025),and storm windows added. Paved driveway with shared entrance leads to rear 2-car garage.
Enjoy life in close in Silver Spring, where charm and convenience meet. Located in the established Indian Spring neighborhood, this home enjoys a lovely setting surrounded by mature trees, parks, and abundant recreation. Nearby Indian Spring Terrace Park offers 30 acres with a playground, tennis and pickleball courts, basketball, and athletic fields, while Sligo Creek Stream Valley Park provides miles of scenic trails and green space. Downtown Silver Spring is also close by, with easy access to the Capital Beltway and Silver Spring Metro for travel throughout the region. You'll love the combination of a lush setting, neighborhood charm, and exceptional convenience!
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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.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
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Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 24, 2026 | Listed by Perennial Real Estate | $819,000 | |
| Listed by Perennial Real Estate | |||
| Jan 5, 1999 | Sold | ||
| Sold | |||
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About Silver Spring
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017