5161 OCEAN GATEWAY
About This Property
Adjacent to the living room, a stylish entryway welcomes you in from the oversized attached garage, featuring built-in cubbies and bench seating, designed with the needs of modern living in mind. Laundry is discreetly positioned near the main floor bedrooms for added convenience. The private quarters on the main level include three well-appointed bedrooms and a beautifully renovated hall bath. The luxurious primary suite, complete with a spacious walk-in closet and a spa-inspired ensuite bath, is finished in refined materials and serene tones. Throughout the home, oversized windows frame idyllic views of the surroundings, inviting in natural light and offering a peaceful backdrop that enhances the home's quiet elegance.
Ascend the custom-crafted steel railing to the redesigned upper level, where an inviting loft, a private home office, an expansive bonus room, and a full bath offer endless flexibility for guests, work, or retreat. Every detail reflects intentional design and uncompromising quality-from wide-plank LVP flooring and recessed lighting to the brand-new roof, windows, water heater, and HVAC systems that provide comfort and peace of mind. This private retreat is nestled among mature trees and framed by sweeping views, offering a sense of seclusion while remaining just minutes from the boutiques, restaurants, and marinas that define the charm of Eastern Shore living. Enjoy effortless access to the region's most beloved destinations, with scenic cruises to Oxford, Easton, and St. Michaels all within easy reach.
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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
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 15, 2025 | Sold | ||
| Sold | |||
| Jul 14, 2025 | In contract | - | |
| In contract | |||
| Jun 30, 2025 | Listed by Meredith Fine Properties | $519,900 | |
| Listed by Meredith Fine Properties | |||
| May 8, 2025 | Price Decreased |
$549,900
↓ $19K
(3.4%) | |
| Price Decreased | |||
| Mar 28, 2025 | Price Decreased |
$569,000
↓ $31K
(5.2%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017