505 ELLSWORTH DR
About This Property
Step inside to discover a recently renovated space with an open concept kitchen, dining room, and living room adorned with recessed lighting and a wood-burning fireplace, creating a cozy ambiance for gatherings and relaxation. The kitchen is a chef's dream, boasting maple cabinets, granite countertops, and GE Cafe appliances.
The main level also features a generous primary bedroom with a freshly renovated en-suite bath, adorned with beautiful French doors that open onto the spectacular backyard waterfall-a tranquil oasis right at your doorstep. Additionally, a second full bath, laundry room, and access to the family room complete this level, offering seamless functionality and modern living.
Upstairs, you'll find two more bedrooms, a powder room, and ample storage space, providing versatility and room for personalization. Throughout the home, attention to detail is evident, with glowing hardwoods and many other high-end finishes adding character and charm.
But the allure doesn't end there. This property also features a licensed one-bedroom apartment (ADU) on the lower level, boasting a separate entrance, outdoor seating area, living room, kitchen with granite countertops, den, full bath, and laundry room-rented as an Airbnb for rental income by the sellers (329 nights in 2024!) but it is also ideal for guests and extended family, *Note, MoCo DHHS will require the new owner to apply to transfer the license within 15 days of the sale or they'll have to start the application process all over again.
Do not miss the versatile workshop/bonus space, where creativity knows no bounds. Whether you're a hobbyist, an entrepreneur, or simply in need of extra storage, this multifunctional area is a game-changer. With its own 60 amp electrical panel, you'll have the power to bring your visions to life, whether it's woodworking, crafting, or tinkering with projects.
Location-wise, this residence is a commuter's dream, less than a mile to the Silver Spring Metro and even closer to the future Purple line Metro. Plus, enjoy the convenience of nearby amenities such as Ellsworth Dog Park, Sligo Creek Trail, Farmers Market, and Whole Foods-all within a short stroll from your doorstep.
Payment Calculator
Your Estimated Monthly Payment
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
Property Highlights
Building Info
Comparables
Status
Price/ft²
Listed On
Sold On
About Silver Spring
Similar Homes for Sale
Currently no similar homes aroundNearby Rentals
$3,900 /mo
- 3 Beds
- 2 Baths
- 1,502 ft²
$4,000 /mo
- 6 Beds
- 3 Baths
- 2,668 ft²
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017