62 SOUTHGATE AVENUE
About This Property
Inside, classic architectural details create a warm and inviting atmosphere. The gracious foyer opens to gleaming hardwood floors, oversized moldings, and elegant French doors connecting the living and dining rooms. Two gas fireplaces-one in the living room and another in the family room-add warmth and charm throughout the home. The beautifully appointed kitchen features custom cabinetry, granite countertops, a four-burner gas range with griddle and hood, and a wine refrigerator. A conveniently located powder room completes the main level. Plantation shutters throughout the home add timeless style and privacy.
The spacious family room off the kitchen features a fireplace & custom built-ins for abundant storage, while double French doors open to the delightful courtyard, seamlessly blending indoor and outdoor living.
Upstairs, the generous primary suite offers a walk-in closet and an en suite bath with dual vanities and a walk-in shower. Two additional bedrooms share a charming hall bath featuring a classic clawfoot tub and a custom vanity installed in 2020. An open sitting area creates the perfect reading nook or home office, and the laundry is conveniently located on this level.
The third floor is home to a delightful fourth bedroom with cathedral ceilings, exposed beams, a large walk-in closet, and a private full bath-an ideal guest suite or private retreat.
The finished lower level provides exceptional flexibility with a spacious second family room featuring built-in shelving, plus an additional room currently used as a home office and fitness area. A half bath completes this level.
Additional highlights include three-zone heating and cooling, a new roof installed in 2020, and a fully encapsulated crawl space.
Ideally located on Southgate Avenue, this exceptional home offers easy walkability to downtown Annapolis, the U.S. Naval Academy, and the city's renowned shops, restaurants, and waterfront. At the end of the street, enjoy water access to Spa Creek-perfect for launching a kayak or stand-up paddleboard and embracing the Annapolis lifestyle.
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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%.
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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.
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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 |
|---|---|---|---|
| Oct 18, 2026 | In contract | - | |
| In contract | |||
| Sep 28, 2026 | Price Decreased |
$1,995,000
↓ $255K
(11.3%) | |
| Price Decreased | |||
| Aug 27, 2026 | Price Decreased |
$2,250,000
↓ $150K
(6.3%) | |
| Price Decreased | |||
| Jul 30, 2026 | Listed by Coldwell Banker Realty | $2,400,000 | |
| Listed by Coldwell Banker Realty | |||
| Oct 2, 2020 | Sold | ||
| Sold | |||
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About Annapolis
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017