Yes, your net worth would be 3.1 if you own the properties free and clear and have no other debt. Just assets less liabilities.
"Effective net worth" is somewhat less, given capital gains hits and fact that some of the $$ are in tax deferred accounts. But you can control the tax rate to a certain extent, even for the Real estate--think 1031, or possibly selling the one eligible for 500K exclusion, then moving into the other (if a house). Plus, if income-producing property, holding it after retirement can be an effective method of financing your life.
Finally, don't forget, you always need someplace to live; that's why many retirement analyses will exclude all or some of the value of your house.