311 SOUTH DRIVE
About This Property
The newly renovated lower level adds even more flexibility, with a spacious entertainment area, an additional bedroom, a full bath, a home gym, and a private entrance. Ideal for guests, multigenerational living, or an au pair suite, it offers both comfort and privacy.
Outside, the waterfront amenities truly shine. The private dock, rebuilt in 2017, offers three boat slips, an electric boat lift, and a dedicated launch area for kayaks and paddleboards. Deep, navigable water provides easy access to the Magothy River, making days on the water simple and enjoyable. Back at home, relax on the expansive deck, gather around the custom firepit patio, and take advantage of storage sheds and dedicated rack space for kayaks, canoes, and paddleboards. An oversized driveway provides plenty of room for vehicles, equipment, and all the extras that come with waterfront living.
Located within the Severna Park school system and just minutes from shopping, dining, and major commuter routes, 311 South Drive offers a rare opportunity to enjoy a private waterfront setting with exceptional space, flexibility, and waterfront amenities.
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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 |
|---|---|---|---|
| Apr 24, 2026 | Sold | ||
| Sold | |||
| Apr 8, 2026 | In contract | - | |
| In contract | |||
| Apr 4, 2026 | Listed by Compass | $1,475,000 | |
| Listed by Compass | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017