3-Bedroom Residential Income
For Sale
$849,000
Pending
8101 CONNECTICUT AVE #C-601, Chevy Chase, MD 20815
CHEVY CHASE, MD
Property Size1,929 SF
Days on Market226
Property Features for 8101 CONNECTICUT AVE #C-601
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 3, Bedroom 2
Subdivision
8101 CONN AVE
Elementary school
ROSEMARY HILLS
Middle school
SILVER CREEK
High school
BETHESDA-CHEVY CHASE
Elementary school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
Middle school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
High school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
Standard status
Pending
Amenities
private balcony
24-hour front desk service
guest parking
landscaped grounds
water features
seating areas
pet-friendly
private storage unit
wood-burning fireplace
laundry room
Building Details
Year built
1982
Listing Agency:
Chevy Chase Circle
(202) 966-1400
Listed By:
Ron Sitrin
Added: Jan 14
Changed: Aug 25
Last Checked: Aug 28 at 2:06AM
MLS# MDMC2210484
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,929-square-foot condominium residence provides one-level living with three bedrooms and three full bathrooms, including two en-suite bedrooms. The layout includes a living room with a concealed wood-burning fireplace, formal dining room, eat-in kitchen, separate laundry room, private bedroom wing, and custom built-ins. The kitchen features KraftMaid cabinetry, granite counters, KitchenAid stainless-steel appliances, double wall ovens, a peninsula, and pantry storage. Nine-foot ceilings, crown molding, wood floors, and fresh paint contribute to the interior finish. The primary suite includes built-in dressers, a desk area, walk-in closet organization, and a renovated bath with an oversized vanity, glass-enclosed shower, and porcelain tile.
The residence includes a private balcony facing a landscaped courtyard and Columbia Country Club, along with a private storage unit and two garage parking spaces. Building amenities include 24-hour front desk service, guest parking, landscaped grounds with water features and seating areas, and a pet-friendly community. The property is near Chevy Chase Lake Town Square, the library, shopping, restaurants, and the future Purple Line.
The residence includes a private balcony facing a landscaped courtyard and Columbia Country Club, along with a private storage unit and two garage parking spaces. Building amenities include 24-hour front desk service, guest parking, landscaped grounds with water features and seating areas, and a pet-friendly community. The property is near Chevy Chase Lake Town Square, the library, shopping, restaurants, and the future Purple Line.
Key Highlights
- 1,929‑square‑foot condominium with three bedrooms and three full bathrooms
- Two en‑suite bedrooms and a private bedroom wing
- Two garage parking spaces, numbered 242 and 244
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,850
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$637,000
$637.0K
Cap Rate 7%
$455,000
$455.0K
Cap Rate 9%
$353,889
$353.9K
Market Conditions
NOI Build-Up for 1,929 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$62.3K $32.28/SF
− Vacancy
−$4.4K −$2.26/SF
EGI
$57.9K $30.02/SF
− OpEx
−$26.1K −$13.51/SF
NOI
$31.9K $16.51/SF
Area
Montgomery County, MD
Vacancy
7.00%
Lease Rate
$32.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$637,000
Cap Rate 7%
$455,000
Cap Rate 9%
$353,889
Alternative Uses
Best Use
Apartment 5plus
$455.0K
$398.1K – $530.8K
NOI $31,850 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$678.6K
$593.8K – $791.7K
NOI $47,500 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 20815, MD
31,517
Population
14,192
Households
2.2
Avg Household Size
46
Median Age
85%
College-Educated
98%
High-School Grad
5.4 sq mi
ZIP Area
5,836
Density / Sq Mi
$198,243
Median Household Income
$106,711
Median Earnings
$2,408
Median Rent
$1,230,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Redesigned condominium residence with one-level living, custom millwork, private outdoor space, and two dedicated garage spaces.
Where is this residential income property located?
The property is located at 8101 CONNECTICUT AVE #C-601 Chevy Chase, MD.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 1,929‑square‑foot condominium with three bedrooms and three full bathrooms; Two en‑suite bedrooms and a private bedroom wing; Two garage parking spaces, numbered 242 and 244
