$510,000
●
House -
Off Market
508 SILVER SPRING AVE
SILVER SPRING, MD 20910
3 Beds
2 Baths
832 Ft²
$2,505
Est. Monthly
About This Property
Welcome to this recently RENOVATED and inviting bungalow tucked
away in the trees! As you approach the front door, the nicely
landscaped and elevated front yard provides a sweeping view of the
neighborhood. Once inside, the updated kitchen and open floor plan
create a cozy atmosphere flooded with natural light. There are also
two large and bright bedrooms and a full bathroom upstairs. An
egress window is being added to the basement bedroom and will be
completed in early October. The open and stylish basement includes
a bedroom, an updated bathroom, a storage/laundry area, and a
recreation area large enough to fit an entertainment space or a
home gym. With the proper licensure, the basement can easily be
closed off and used as a RENTAL UNIT. The backyard is large and low
maintenance. It's rare to get so much nature and charm so close to
Downtown Silver Spring. The Sligo Creek Trail is a short walk from
the house. The future owner is perfectly positioned to take
advantage of all Downtown Silver Spring has to offer. Quick commute
into DC as well.
Unit Size
832 Ft²
Days on Market
29 days
Land Size
0.14 acres
Price per sqft
$613
Property Type
House
Property Taxes
$504
HOA Dues
-
Year Built
1936
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Cap Rate
100% Occupancy
N/A (extreme outlier) 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.
Last updated: 2 years ago (Bright MLS #MDMC2151804)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jan 3, 2025 | Sold | ||
| Sold | |||
| Dec 5, 2024 | In contract | - | |
| In contract | |||
| Nov 7, 2024 | Price Decreased |
$510,000
↓ $39K
(7.1%) | |
| Price Decreased | |||
| Oct 21, 2024 | Price Decreased |
$549,000
↓ $26K
(4.5%) | |
| Price Decreased | |||
| Oct 10, 2024 | Listed by Compass | $575,000 | |
| Listed by Compass | |||
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Property Highlights
Parking Available
Air Conditioning
Fireplace
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
About Silver Spring
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Listed by: Avi Galanti
Compass
Last Updated: 2 hours ago
Data Source: Bright MLS , MLS# MDMC2151804
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by BRIGHT through a licensing agreement. Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2026 Bright MLS, Inc.
Compass
Last Updated: 2 hours ago
Data Source: Bright MLS , MLS# MDMC2151804
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