Corner Residential Income
For Sale
$845,894
1121 FORTUNE TERRACE Unit 204, Potomac, MD 20854
New one-level condominium with elevator access, balcony storage, and finishes suited to low-maintenance living.
Property Size1,496 SF
Days on Market90
Property Features for 1121 FORTUNE TERRACE Unit 204
General Information
Standard status
Active
Size
1,496 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$11,305
Building Details
Building Size
1,496 SF
Year Built
2026
Listing Agency:
Monument Sotheby's International Realty
(240) 274-1219
Listed By:
Joseph A Petrone
(240) 274-1219
Source:
Barnesrealestatecompany
Added: May 12
Changed: Aug 8
Last Checked: Aug 8 at 9:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Monument Sotheby's International Realty
Investment Insights
Based on property information with market context.
This new-construction, one-level condominium is configured with 2 bedrooms and 2 bathrooms. The corner residence includes an open floor plan, elevator access, and a balcony with additional storage. Interior finishes include quartz countertops, stainless steel Gourmet Kitchen appliances, a ceramic tile backsplash, and luxury vinyl plank flooring throughout.
Built in 2026, the property is located within Park Potomac, with restaurants and shopping accessible on foot. The combination of single-level living, contemporary finishes, private outdoor space, and elevator service supports a low-maintenance residential format.
Built in 2026, the property is located within Park Potomac, with restaurants and shopping accessible on foot. The combination of single-level living, contemporary finishes, private outdoor space, and elevator service supports a low-maintenance residential format.
Key Highlights
- New‑construction corner condominium built in 2026
- 2 bedrooms and 2 bathrooms in a one‑level layout
- Elevator access and balcony with storage space
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
$24,701
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
2.92%
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%
$494,020
$494.0K
Cap Rate 7%
$352,871
$352.9K
Cap Rate 9%
$274,456
$274.5K
Market Conditions
NOI Build-Up for 1,496 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
$48.3K $32.28/SF
− Vacancy
−$3.4K −$2.26/SF
EGI
$44.9K $30.02/SF
− OpEx
−$20.2K −$13.51/SF
NOI
$24.7K $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%
$494,020
Cap Rate 7%
$352,871
Cap Rate 9%
$274,456
Alternative Uses
Best Use
Apartment 5plus
$352.9K
$308.8K – $411.7K
NOI $24,701 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$526.3K
$460.5K – $614.0K
NOI $36,838 @ 7.0% cap · market cap 4.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 20854, MD
50,698
Population
17,119
Households
3
Avg Household Size
47
Median Age
86%
College-Educated
97%
High-School Grad
33.8 sq mi
ZIP Area
1,500
Density / Sq Mi
$250,001
Median Household Income
$118,028
Median Earnings
$3,180
Median Rent
$1,105,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - New one-level condominium with elevator access, balcony storage, and finishes suited to low-maintenance living.
Where is this residential income property located?
The property is located at 1121 FORTUNE TERRACE Unit 204 Potomac, MD.
What is the asking price?
The asking price for this property is $845,894.
What are key features of this property?
This property features: New‑construction corner condominium built in 2026; 2 bedrooms and 2 bathrooms in a one‑level layout; Elevator access and balcony with storage space
