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8401 SPRINGFIELD ROAD
About This Property
Exceptional development opportunity in Bowie and Glenn Dale! This 6-acre corner lot parcel is in the process of being subdivided into approximately 10–13 half-acre lots, ideal for the construction of new single-family homes.
With over 200 + feet of street frontage. Subdivision work is already underway, saving valuable time and upfront costs. Public utilities-including water, sewer, electricity, and gas-are available in the area, making this a highly desirable and development-ready site. Over 6 different new construction floor plans are already pre-approved with the county to be built.
Recent comparable sales for new construction homes in Bowie exceed $1,000,000 per property, offering strong potential returns for builders and investors.
The property currently includes an existing home, providing an opportunity for immediate rental income while development plans are finalized.
Subdivision and engineering costs are included in the purchase price. For developers seeking a streamlined process, a qualified building contractor can also be provided for the construction of the new homes for $100 per sq feet to build leaving you with a great six figure profit per house.
Ideal for developers, investors, or buy-and-hold strategies in a rapidly growing area.
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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 |
|---|---|---|---|
| Sep 30, 2026 | Price Decreased |
$849,995
↓ $50K
(5.6%) | |
| Price Decreased | |||
| Sep 9, 2026 | Price Decreased |
$899,999
↓ $100K
(10%) | |
| Price Decreased | |||
| Aug 12, 2026 | Price Decreased |
$999,995
↓ $79K
(7.3%) | |
| Price Decreased | |||
| May 26, 2026 | Price Decreased |
$1,079,000
↓ $21K
(1.9%) | |
| Price Decreased | |||
| Mar 19, 2026 | Listed by Taylor Properties | $1,099,998 | |
| Listed by Taylor Properties | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017