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7608 WELLESLEY DRIVE
About This Property
This 4-bedroom, 2.5-bath split level home offers incredible potential for buyers looking to add their own style and updates while living in a highly convenient location. Major recent improvements provide peace of mind, including a NEW ROOF (2024) and a NEW HVAC (2024)! Highlights include hardwood flooring under carpeting just waiting to be revealed. Filled with character and solid bones, this property is ready for your modern touches while offering plenty of space to grow. This is a rare chance to invest in a prime location and make a home truly your own. Set slightly above the neighboring homes, the property enjoys added privacy and peaceful tree views with a backyard setting that feels serene and tucked away. Inside, the large picture window in the living room fills the space with abundant natural light, creating a bright and welcoming atmosphere. Home features a long concrete driveway providing off street parking for 3 cars and adjoining a convenient side entrance in the home. Ideally located within walking distance to both the Indian Creek Park entrance and the Lake Artemesia Natural Area with its scenic walking and biking trails, lake views, nearby Metro and bus service, and local elementary and middle schools. Just minutes from the University of Maryland, shopping, dining, and major commuter routes including I-495 and Route 1, this home combines exceptional accessibility with the comfort of a quiet residential setting.
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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.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017