NOT LISTED FOR SALE

3501 Cherry Valley Dr Olney, MD 20832

Estimated Value: $602,000 - $715,689

3 Beds
2 Baths
2,366 Sq Ft
$274/Sq Ft Est. Value

Last Sold December 27, 2024

Last sale price $603,000 $255 Per Sq Ft

Est. 7% increase in value since last sale

Current estimated payment $3,971/month

74 Days on Market

Highlights

  • Private Pool
  • Rambler Architecture
  • No HOA
  • Olney Elementary School Rated A
  • 2 Fireplaces
  • 2 Car Direct Access Garage

About This Home

As of December 2024

JUST REDUCED THE PRICE! This all brick 3 bed and 2 full bath home is located on 1/2 of acre and has never been sold. This custom built home was once featured in Better Homes and Garden Magazine in 1964. Enter the home through a beautiful portico with double front doors. The foyer has original tile imported from Italy and exquisite crown molding along with 2 large closets. The spacious living room has a 2 sided fireplace and expansive windows that give a great view of the backyard. The dining room is quite large with hardwood floors and a beautiful all brick fireplace. Sliding glass doors bring in natural light and a view of the pool in the backyard. The table space kitchen has plenty of cabinetry and a pass through to the dining room for easy entertaining. There is a 2nd entryway adjacent to the kitchen. This 2nd entryway features a patio that is perfect for relaxing with a cup of coffee outdoors. There is another room off the kitchen that was used as a home office and has many other options for use such as a mudroom, laundry room or over sized pantry.
There is a large panelled room with a bay window and an inside entrance to the oversized garage.
The 3 bedrooms and 2 full baths are tucked away from the main living area. There is a washer and dryer conveniently located in the bedroom wing. The backyard has an expansive deck and pool for entertaining. There is also a large shed for storage. The oversized garage with circular driveway provide plenty of room for multiple cars and parking for guests. Newer Roof (2017). This one level home is located on 1/2 acre with NO HOA and is within walking distance to Roots, Starbuck and Sisters Sandwhich Shop. Close to the heart of Olney as well as Route 200 and Georgia Avenue. This home has so many possiblilites for its new owner and its convenient location to shops, restaurants and commuter routes can't be beat. Home is being sold "As Is".

Last Agent to Sell the Property

Diane Rioux

(301) 367-1115 dwrioux@gmail.com Real Broker, LLC - Gaithersburg License #617061 Listed on: 08/29/2024

Real Broker, LLC - Gaithersburg

Last Buyer's Agent

Danielle Franz

(410) 703-4687 dfranz218@gmail.com EXP Realty, LLC License #667938

EXP Realty, LLC

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $7,085

Year Built

  • Built in 1964

Lot Details

  • 0.51 Acre Lot
  • Property is zoned R200

Parking

  • 2 Car Direct Access Garage
  • 6 Driveway Spaces
  • Oversized Parking
  • Front Facing Garage

Home Design

  • Rambler Architecture
  • Brick Exterior Construction

Interior Spaces

  • 2,366 Sq Ft Home
  • Property has 1 Level
  • Ceiling Fan
  • 2 Fireplaces
  • Crawl Space

Bedrooms and Bathrooms

  • 3 Main Level Bedrooms
  • 2 Full Bathrooms

Pool

  • Private Pool

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Powered By Leased Propane
  • Propane
  • Electric Water Heater
  • Septic Tank

Community Details

  • No Home Owners Association
  • Olney Outside Subdivision

Listing and Financial Details

  • Assessor Parcel Number 160800711747

Home Details

Home Type

Single Family

Est. Annual Taxes

$7,085

Year Built

Built in 1964

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential
  • Structure Type: Detached
  • Architectural Style: Ranch/Rambler
  • Ownership: Fee Simple
  • New Construction: No
  • Story List: Main
  • Expected On Market: 2024-08-29
  • Year Built: 1964
  • Automatically Close On Close Date: No
  • Special Features: VirtualTour
  • Property Sub Type: Detached

Interior Features

  • Fireplaces Count: 2
  • Fireplace: Yes
  • Foundation Details: Crawl Space
  • Levels Count: 1
  • Basement: No
  • Total Sq Ft: 2366
  • Living Area Sq Ft: 2366
  • Price Per Sq Ft: 270.50
  • Above Grade Finished Sq Ft: 2366
  • Above Grade Finished Area Units: Square Feet

Beds/Baths

  • Bedrooms: 3
  • Main Level Bedrooms: 3
  • Total Bathrooms: 2
  • Full Bathrooms: 2
  • Main Level Bathrooms: 2.00
  • Main Level Full Bathrooms: 2

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Brick
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: Yes - Personal
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage Spaces: 2.00
  • Garage: Yes
  • Garage Features: Garage - Front Entry, Inside Access, Oversized
  • Attached Garage Spaces: 2
  • Total Garage And Parking Spaces: 8
  • Type Of Parking: Attached Garage, Driveway
  • Number of Spaces in Driveway: 6

Utilities

  • Refuse: 244.78
  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Central A/C, Ceiling Fan(s)
  • Heating Fuel: Propane - Leased
  • Heating Type: Forced Air
  • Heating: Yes
  • Hot Water: Electric
  • Sewer/Septic System: Septic Exists
  • Utilities: Propane
  • Water Source: Public

Condo/Co-op/Association

  • Condo Co-Op Association: No
  • HOA: No
  • Senior Community: No

Schools

  • School District Source: Listing Agent

Lot Info

  • Lot Size Acres: 0.51
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 22051.00
  • Zoning: R200
  • In City Limits: No

Rental Info

  • Vacation Rental: No

Tax Info

  • Tax Annual Amount: 7085.00
  • Assessor Parcel Number: 160800711747
  • County Tax Payment Frequency: Annually
  • Tax Data Updated: No
  • Tax Year: 2024

MLS Schools

  • School District Name: MONTGOMERY COUNTY PUBLIC SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 29, 2024
Closed on
Dec 27, 2024
Sold by
Lamendola Georgia R and Lamendola Joseph D
Bought by
Wolfe Candice
Seller's Agent
Diane Rioux
Real Broker, LLC - Gaithersburg
Buyer's Agent
Danielle Franz
EXP Realty, LLC
List Price
$675,000
Sold Price
$603,000
Premium/Discount to List
-$72,000
-10.67%
Views
496
Current Estimated Value
$647,172

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$44,172
Avg. Annual Appreciation
7.33%
Original Mortgage
$528,000
Outstanding Balance
$524,182
Interest Rate
6.6%
Mortgage Type
New Conventional
Estimated Equity
$122,990
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Wolfe Candice $603,000 Sage Title
Wolfe Candice $603,000 Sage Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Wolfe Candice $528,000
Closed Wolfe Candice $528,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/27/2024 12/27/24 Sold $603,000 -5.8% $255 / Sq Ft
10/07/2024 10/07/24 Price Changed $640,000 -5.2% $270 / Sq Ft
08/29/2024 08/29/24 For Sale $675,000 -- $285 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,085 $605,900 $293,800 $312,100
2024 $7,085 $564,700 $0 $0
2023 $1,425 $523,500 $0 $0
2022 $5,157 $482,300 $279,800 $202,500
2021 $1,380 $473,900 $0 $0
2020 $552 $465,500 $0 $0
2019 $4,770 $457,100 $279,800 $177,300
2018 $4,771 $457,100 $279,800 $177,300
2017 $4,864 $457,100 $0 $0
2016 -- $462,200 $0 $0
2015 $4,173 $450,700 $0 $0
2014 $4,173 $439,200 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: MDMC2145738

Bright MLS

APN: 08-00711747