38093 BAILEY WAY
About This Property
Step inside to discover rich wood look luxury vinyl plank flooring flowing through much of the main living area, creating warmth and continuity. To the right of the foyer, a formal dining room with classic chair railing provides an elegant space for gatherings and special meals. To the left, two comfortable bedrooms are thoughtfully placed near a full hall bath, one of which enjoys calming pond views that bring the outdoors in.
The heart of the home opens into a bright, open concept living space where the living room, breakfast area, and sunroom come together beneath a high vaulted ceiling with recessed lighting. This layout invites connection and conversation, whether you are hosting guests or enjoying a quiet evening at home. The sunroom is a standout feature, offering a peaceful spot to unwind while taking in beautiful pond views year-round.
The kitchen is both stylish and functional, designed to keep you connected to the living areas while you cook. It features 42-inch cabinetry, granite countertops, a gas cooktop, double wall oven, pantry, and a center island with pendant lighting and breakfast bar seating, making it ideal for casual meals or entertaining.
Just off the kitchen, the laundry room includes a utility sink and provides direct access to the two-car garage for everyday convenience. Window blinds are already in place throughout the home, and a tankless hot water heater adds efficiency and comfort.
The primary suite offers a private retreat, generously sized with a large walk-in closet and a spa inspired en suite bath. Enjoy an extra wide tiled glass door shower with multiple spray heads and a built-in bench, along with a dual granite topped vanity that adds both style and function.
Outside, the spacious backyard is partially fenced, offering room to relax, garden, or enjoy outdoor activities while still taking in the peaceful pond setting. Located close to the Assawoman Wildlife Area, Freeman Arts Pavilion, and just a short drive to Bethany Beach, Fenwick Island, and Ocean City, this home perfectly blends comfort, nature, and coastal convenience.
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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%.
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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.
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.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017