637 RITCHIE AVE
About This Property
This 4 bedroom 2 bath farmhouse, features a charming wrap-around covered front porch. The perfect place to enjoy evening sunsets. This home is nestled on a rare, flat 15,549 sq ft lot. Ideally located in the Blair neighborhood,
The home retains its early 1900s charm, complemented by a beautiful sunroom addition at the back, This room acts as the heart of the home. Inside, you'll find a large dining room open to the kitchen, a main floor bedroom, with attached office at the front of the home and a separate laundry room on the main level. There are three additional bedrooms upstairs, along with two full baths-one upstairs and one conveniently located off the kitchen. With no HOA, this home is ready for your personal touches. Bring your contractors and builders, but please note the home is being sold strictly "as-is."
This area has a rich architectural heritage and a strong sense of community, making it a desirable place to live. Living in the Blair neighborhood means you're just minutes away from the vibrant downtown areas of Silver Spring and Takoma Park. Enjoy a variety of dining, shopping, and entertainment options, as well as parks, community centers, and excellent schools. Public transportation options are plentiful, with easy access to 2 Metro stations and bus routes, making commuting a breeze.
The basement offers a fantastic opportunity to create a wine cellar. Owned solar panels on the roof provide energy efficiency. The back garden is a perfect Zen retreat, featuring a large deck, a koi pond, and planter boxes. Two sheds-one by the driveway and one in the rear of the yard-offer ample storage space.This location offers the perfect blend of suburban tranquility and urban convenience. Welcome Home!
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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%.
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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.
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 |
|---|---|---|---|
| Dec 19, 2024 | Sold | ||
| Sold | |||
| Dec 11, 2024 | In contract | - | |
| In contract | |||
| Nov 14, 2024 | In contract | - | |
| In contract | |||
| Nov 7, 2024 | Price Decreased |
$779,000
↓ $70K
(8.2%) | |
| Price Decreased | |||
| Oct 24, 2024 | Listed by Coldwell Banker Realty | $849,000 | |
| Listed by Coldwell Banker Realty | |||
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About Silver Spring
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017