409 PENWOOD ROAD
About This Property
This traditional brick colonial blends timeless character with modern updates, offering 3 bedrooms, 3 full bathrooms, and a stunning family room addition completed in 2023.
Step inside to an expansive living room with freshly refinished hardwood floors, recessed lighting, and a cozy fireplace. The renovated and expanded kitchen is a showstopper, featuring quartzite countertops, stainless steel appliances, white cabinetry, and fantastic natural light. An oversized island with seating for 3–4 anchors the space, while an adjoining dining area provides plenty of room for family meals or entertaining. Just off the living room and kitchen, the new family room addition impresses with vaulted ceilings and a full wall of custom built-in cabinetry-perfect for gatherings and everyday living. Concrete driveway installed in 2022.
A full bathroom and mudroom connect seamlessly to the backyard, where you'll find an expansive outdoor retreat with a patio, firepit area, and custom playground.
Upstairs, hardwood floors continue throughout all three bedrooms, which are filled with natural light and share a bright, well-appointed full bathroom.
The finished lower level adds valuable living space with a second family room, a beautifully renovated full bath with custom tile and a walk-in rain shower, a laundry area, and generous storage. A walk-up staircase provides convenient access to the backyard. Improvements list included in documents section.
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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.
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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About Silver Spring
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017