8804 1ST AVE
About This Property
Discover a prime investment opportunity at 8804 1st Ave, Silver Spring, MD. This property, nestled in a sought-after location, offers vast potential for savvy investors looking to reimagine and revitalize.
Key Features:
Location: Ideally situated in Silver Spring, enjoy urban conveniences while relishing a tranquil residential setting.
Size and Structure: With a spacious layout of 2271 sq/ft spread out over three levels, this property beckons creative redesigns, presenting an open canvas for innovative transformations. This home is also situated on a very large lot of approx 15,000 sq/ft or almost 3/4 of an acre. Bump out or up potential galore and possible addition of an other building such as a home office, garage or artist studio. Be creative and let your architect make some suggestions.
Investment Potential: Unlock the potential for a lucrative investment in a rapidly growing market, promising significant returns with strategic renovations. Wonder the local area and see what how similar homes have been renovated, updated and expanded.
Surrounding Area: Close to local attractions, parks, shopping, and top-rated schools, enhancing the property's appeal for future buyers or renters.
Why It's a Dream for Investors and Sweat Equity Homeowners:
Renovation Opportunity: Embrace the challenge of remodeling this property, harnessing its blank slate to create a modern, captivating living space.
Profit Prospects: Leverage the property's location and growth potential in Silver Spring for a promising return on investment.
Resale/Rental Potential: After renovation, attract eager buyers or tenants seeking a stylish, revamped dwelling in this burgeoning area.
Take advantage of this rare opportunity to breathe new life into this lovely property. Explore the endless possibilities of this property, and make your mark in the thriving Silver Spring real estate scene.
Schedule a viewing today to unleash its full potential!
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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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About Silver Spring
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017