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412 SILVER SPRING AVENUE
About This Property
Step inside from the welcoming front porch to an open-concept living and dining area with high ceilings, abundant natural light, and gleaming wood flooring. The spacious dining area is perfect for entertaining, while the living room features a cozy gas fireplace and a large picture window overlooking the backyard. The gourmet kitchen is finished with custom cabinetry, marble countertops, an oversized island with breakfast bar seating, and stainless-steel appliances replaced within the last 4 years, including a dishwasher and fridge by Bosch, and an induction range. From the kitchen, step into the screened deck that's ideal for extended outdoor living facilitated by a ceiling fan. The deck leads down to a park-like private backyard with beautiful hardscape design and varied colorful landscaping including 2 raised garden beds, a productive hibiscus plant, a bright-white flowering dogwood tree, a wave-shaped hedge, fence flower boxes, and tall flowering perennials - all viewable from the deck!
The main level is complete with French doors to a main level bedroom, plus a powder room. The wood flooring continues throughout the upper bedroom level. The primary suite is bright with recessed lighting, dual closets (including a full and semi walk-in), and a private ensuite bath. The luxurious ensuite includes a dual vanity, jetted tub, and spacious shower plumbed for use as a steam room. The secondary bedrooms are well appointed (one with an added loft and vaulted ceiling) and share a hallway full bath next to the convenient laundry closet.
The finished lower level is a huge bonus, boasting a fourth bedroom, full bath, and expansive rec room with built-in wet bar and flex space perfect for hosting or relaxing. Utility and storage rooms provide added convenience and functionality.
Notable upgrades include several energy-efficient and climate-resilient features (a backup power generator, a BRAND-NEW cold-climate heat pump with improved ductwork upstairs, and storm water management strategies) and a hot water supply drip circulator for quick hot water. With dedicated 3-car driveway parking and a location that can't be beat, this Silver Spring home is the perfect blend of style, function, and comfort! Schedule your showing today!
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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.
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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