735 PALMER DRIVE
About This Property
Upstairs, the layout continues to deliver what buyers are actually looking for right now. Three bedrooms, including an oversized primary suite with a private full bath, plus two additional bedrooms that share a well-designed hall bath. Everything has already been updated, so there's nothing to figure out or replace.
The lower level adds another layer of flexibility with a fully finished basement that can easily function as a fourth bedroom, guest space, or separate living area. There is a full bath, a large family room, dedicated laundry area, and additional storage-giving the home multiple ways to be used depending on your needs.
With approximately 2,500 square feet of finished living space, a .22 acre lot, and an oversized two-car garage with epoxy flooring and a new garage door, this property checks boxes that are getting harder to find in this price range.
The location adds another dimension. Being within biking distance to Reston Town Center means access to restaurants, shopping, and everyday conveniences without sacrificing the feel of a residential neighborhood.
For buyers thinking about long-term flexibility, this is the kind of home that works equally well as a primary residence or as a rental without needing additional investment. The updates have already been done, the systems have been addressed, and the layout supports multiple living scenarios.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 21, 2026 | Sold | ||
| Sold | |||
| May 2, 2026 | In contract | - | |
| In contract | |||
| Apr 23, 2026 | Price Decreased |
$699,000
↓ $16K
(2.2%) | |
| Price Decreased | |||
| Apr 20, 2026 | Price Decreased |
$715,000
↓ $10K
(1.4%) | |
| Price Decreased | |||
| Apr 10, 2026 | Listed by Spangler Real Estate | $725,000 | |
| Listed by Spangler Real Estate | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017