74
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349 ARBUTUS DRIVE
About This Property
This charming home has undergone extensive renovations and is move-in ready for its next owner. Step into the spacious family room featuring a cozy fireplace, which flows seamlessly into the updated kitchen with dining area-a perfect space for everyday living. For more formal entertaining, enjoy the separate dining room that opens to a bright and inviting living room. Off the kitchen, a versatile enclosed porch adds additional living space and overlooks the private yard with an attached deck. A main-level full bath adds convenience. Upstairs, the primary bedroom offers peaceful water views, while three additional bedrooms provide flexibility-two even open to upper-level decks with panoramic views of Glebe Bay. The fully remodeled upstairs bathroom features a double vanity, tub/shower combo, and stylish new flooring. The property sits elevated, offering sweeping water views, and the detached garage with a rear workshop offers endless possibilities. There may be potential to subdivide and build, subject to county approval-adding even more value to this special property. Living in Glebe Heights means enjoying a true waterfront lifestyle, with access to the community beach, dock, and year-round social events. All this, just minutes from Downtown Annapolis, major highways, shopping, and an easy commute to DC, VA, and Baltimore. A rare opportunity for waterview living with space to grow-schedule your private tour today!
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Cap Rate Calculator
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 |
|---|---|---|---|
| Mar 19, 2026 | Price Decreased |
$675,000
↓ $15K
(2.2%) | |
| Price Decreased | |||
| Feb 10, 2026 | Price Decreased |
$690,000
↓ $4K
(0.6%) | |
| Price Decreased | |||
| Jan 22, 2026 | Price Decreased |
$694,000
↓ $6K
(0.9%) | |
| Price Decreased | |||
| Sep 29, 2025 | Price Decreased |
$699,995
↓ $20K
(2.8%) | |
| Price Decreased | |||
| Sep 10, 2025 | Listed by EXP Realty, LLC | $719,900 | |
| Listed by EXP Realty, LLC | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017