507 FOREST GLEN RD
About This Property
The NEW ROOF was installed in 2023, along with a NEW WATER HEATER in 2022. A gas fireplace in the living room and 2 main level bedrooms separated by a full bathroom, for anybody who doesn't want to go up or down stairs! The basement has a large recreation room, a bar area and additional perfect space for an office/den, workout/yoga, nanny or guest room. The newly added full bathroom in 2024 has 2 entrances, one from the rec room and the optional room of your dreams! NEW 'White Lace Quartz' Kitchen countertops were installed in 2024. The entire top floor has been used as the primary bedroom, with 2 large closets, and the upper level bathroom has a NEWLY installed Ceramic tile floor. Windows and brick exterior make the interior living space of this home soundproof to the nearby beltway.
Situated on a spacious DOUBLE corner lot, is one of the largest lots in this neighborhood! Zoned R-60, you can add an income-producing Accessory Dwelling Unit, or an Organic Garden Greenhouse, or keep the lot as it is! There is also enough room to do extend the driveway into a U shape with 2 entrances. The potential future value and possibilities are endless.
The interior showcases a harmonious blend of gleaming hardwood, carpeted, and ceramic tile floors, creating a warm and inviting ambiance throughout. The recently updated kitchen, bathrooms, and basement add a touch of luxury to this home, featuring modern fixtures and finishes. The full basement offers additional space for storage or customization to suit your needs. The attached garage with an entrance directly into the basement is super convenient for unloading after shopping or returning from a much-needed getaway!
Step outside to enjoy the private yard and enclosed screened-in patio, perfect for outdoor gatherings or simply relaxing in your own tranquil oasis. The fenced in back and side yard provides privacy and security, perfect to let the dogs out and play, while the patio offers a wonderful space for outdoor entertaining.
For your comfort, this home is equipped with air conditioning, central AC, central heating, forced air, and gas heat, ensuring a pleasant environment year-round. A 1-year home warranty will be provided to the purchaser through American Home Shield Warranty.
Whether you are heading to the downtowns of Silver Spring, DC, Takoma Park, or Baltimore, this home is conveniently located close to 2 exits of the beltway, offering easy access to nearby amenities and attractions. Also nearby are 2 Metro Stations (Forest Glenn and Silver Spring) with fast and quick access to Holy Cross Hospital! This is a commuter's dream! Also, directly across the street are a barber, a dry cleaner, and a corner convenience store!
Don't miss the opportunity to make this beautiful property your new home sweet home. Schedule a showing today and experience the charm of 507 Forest Glen Rd!
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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.
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About Silver Spring
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017