502 SOMERSET ROAD
About This Property
This property also offers a valuable opportunity with an assumable loan at a 5.375% interest rate-a significant advantage in today's market. A lower rate like this can translate to substantial monthly savings over time. Buyers are encouraged to reach out to the listing agent for full details on eligibility and the assumption process.
The main level offers an exceptional balance of open and defined living spaces, including a beautiful living room with fireplace, a cozy family room, and a sunroom that feels like a retreat of its own. The fully renovated designer kitchen is a true showpiece, featuring a massive island, custom cabinetry, quartz countertops, and high-end GE Monogram appliances with a sleek downdraft system. An oversized pantry, mudroom, and adjacent dining area make this space as practical as it is stunning. Throughout the home, exquisite craftsmanship is on display-from triple crown molding with dentil detail to historic wall sconces and refined millwork that elevate every space.
Upstairs, the elegance continues. The second level offers three spacious bedrooms and two beautifully updated full baths, finished with Carrara marble and Kohler fixtures. The primary bath is a true retreat, complete with heated floors, a heated towel rack, and a seamless glass shower. The third level provides incredible flexibility with two additional large bedrooms, an optional office or bonus space, and another updated full bath-perfect for guests, work-from-home needs, or multigenerational living.
Additional features include two-zone HVAC for efficient comfort, a high-efficiency Weil-McLain boiler, and a lower level offering ample storage, laundry, and space for a fitness or recreation area. Outside, the property sits on an expansive .40-acre lot-an incredible setting for outdoor living. Enjoy the stone patio for entertaining, relaxing evenings, or weekend gatherings, all surrounded by lush green space. A one-car detached garage and additional off-street parking complete this exceptional offering.
This is more than a home-it's a rare opportunity to own a piece of Roland Park with unmatched character, a beloved floor plan, and the kind of natural light and craftsmanship that buyers dream about.
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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 |
|---|---|---|---|
| May 19, 2026 | Sold | ||
| Sold | |||
| Apr 27, 2026 | Listed by Keller Williams Gateway LLC | $1,275,000 | |
| Listed by Keller Williams Gateway LLC | |||
| Mar 28, 2023 | Sold | ||
| Sold | |||
| Oct 14, 2022 | Listed by Keller Williams Gateway LLC | $1,195,000 | |
| Listed by Keller Williams Gateway LLC | |||
| Sep 13, 2018 | Sold | ||
| Sold | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017