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Drum Point 20657
308 CHESTNUT DRIVE
$368,000
● House - Off Market

308 CHESTNUT DRIVE

LUSBY, MD 20657
bedrooms
3 Beds
bathrooms
2 Baths
square feet
2,800 Ft²
$1,979
Est. Monthly
$15
HOA / Fees
6.82%
Cap Rate

About This Property

Renovated kitchen with granite countertops, and plenty of cabinetry opens to your great room with pitched ceiling and gleaming hardwood floors. Spacious Primary suite includes a full bathroom and walk-in closet. Generously sized guest rooms and hall bath. The lower level is fully finished with a large entertaining area, a beautifully renovated full bath and two sectioned off rooms that could be a den, Home office, or used as two additional bedrooms (just missing the window) so the possibilities are limitless! The backyard provides privacy allowing you to take in those nature views. Low HOA fees of $180 per year yet  walking distance to water access for boating, jet skis, kayaking etc. Within minutes, you're sailing along the Chesapeake Bay! Enjoy the community beach & fishing pier..just in time for summer!
Unit Size
2,800 Ft²
Days on Market
48 days
Land Size
0.22 acres
Price per sqft
$125
Property Type
House
Property Taxes
$245
HOA Dues
$15
Year Built
1998

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

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.

Last updated: 2 years ago (Bright MLS #MDCA2021518)

Price History

Date / Event Date Event Price
Jul 23, 2025 Sold
Premium
Sold
Jun 12, 2025 Listed by RE/MAX One $350,000
Listed by RE/MAX One
Oct 7, 2021 No longer available -
No longer available
Nov 10, 2020 Sold
Premium
Sold
Sep 30, 2020 In contract -
In contract
Show More

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1998
  • Effective Year Built: 1998
  • Bedroom Count: 0
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 9
  • Construction Type: 11
  • Building Style: 0
  • Exterior Walls Type: 25
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 3
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 7
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 9,757
  • Total Building Area: 1,400
  • Gross Building Area: 1,400
  • Building Area: 1,400
  • Building Area Measurement: T

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 8
  • Heated Square Feet: 1,400
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 5
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: DRUM POINT
  • Land Acres: 0000000224
  • Standard Land Use Code: 1001
  • County Land Use Code: R-C001
  • Legal Description 1: LT 1 BLK D SEC 6 DRUM POINT

Neighborhood

  • School District Name: Calvert County Public Schools
  • Census Tract: 861003

Zoning

  • Zoning: R-1

Geography

  • Assessors Map Reference: 45A
  • Account Number: 064452
  • District: 01
  • Section: 6
  • Parcel: 01-064452
  • Block: D
  • Lot: 1
  • Latitude: 38.33
  • Longitude: -76.4286

    Address

  • Full Address: 308 Chestnut Dr
  • Address - House Number: 308
  • Address - Street Name: Chestnut
  • Address - Suffix Type: Dr
  • State: MD
  • City Name: Lusby
  • Carrier Code: H001
  • 4-Digit Zip Code: 3212
  • Zip Code: 20657

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $222,554

    Appraisal Valuation

  • Standard Deviation: 0.1843
  • Valuation Date: Sep 13, 2023
  • Confidence Score: 75
  • Final Value: 342,743
  • High Value: 405,935
  • Low Value: 279,550

    Market Valuation

  • Market Total Value: $214,200
  • Market Land Value: $67,200
  • Market Improvement Value: $147,000

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $214,200
  • Assessed Land Value: $67,200
  • Assessed Improvements Value: $147,000

    Sales

  • Current Sale Contract Date: Nov 03, 2020
  • Current Sale Recording Date: Nov 10, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Previous Sale Recording Date: Apr 10, 2014
  • Previous Sale Contract Date: Mar 27, 2014
  • Previous Sale Amount: $220,000
  • Previous Sale Document Type: 27
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Drum Point

Stats & Trends

Median Asking:

$425,000

Sale Price/ft²

$237

Below Asking

0.02%

Average Days on Market

68

Average Home Size

2362 ft²

Average Home Age

37.2 years

Currently For Sale

20 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 12846 Homestead Lane, LUSBY, MD, 20657

$2,300 /mo

  • 3 Beds
  • 2 Baths
  • 1,196 ft²
12846 Homestead Lane, LUSBY, MD, 20657 Listing by Aaron C Oelrich
Unit for rent at 427 Lessin Drive, LUSBY, MD, 20657

$2,500 /mo

  • 3 Beds
  • 2 Baths
  • 1,563 ft²
427 Lessin Drive, LUSBY, MD, 20657 Listing by Donald L. Frederick
Unit for rent at 12403 Ridge Road, LUSBY, MD, 20657

$2,300 /mo

  • 3 Beds
  • 2 Baths
  • 1,088 ft²
12403 Ridge Road, LUSBY, MD, 20657 Listing by Zachary Edward McDonough

Rentals Near You

Click here to view more rentals in the neighborhood.
Bright MLS

Listed by: Nicki Palermo
RE/MAX One
Last Updated: 1 hours ago
Data Source: Bright MLS , MLS# MDCA2021518
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by BRIGHT through a licensing agreement. Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2026 Bright MLS, Inc.

Frequently Asked Questions

When was property at 308 Chestnut Drive built and last sold?
The property at 308 Chestnut Drive was built in 1998 and last sold on Nov 3, 2020 for $278,000.
How much is this home worth?
The estimated value of the home located at 308 Chestnut Drive is $0.
What are some comparable homes to 308 Chestnut Drive?
There are currently no comparable homes to 308 Chestnut Drive.
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