Residential Income Property with
New
For Sale
$475,000
11323 COMMONWEALTH DR #T2, Rockville, MD 20852
ROCKVILLE, MD
Property Size1,473 SF
Price / SF$322.47
Days on Market2
Property Features for 11323 COMMONWEALTH DR #T2
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 3
Subdivision
GEORGETOWN VILLAGE
Elementary school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
Middle school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
High school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
Standard status
Active
Amenities
granite countertops
stainless steel appliances
in-unit washer/dryer
patio
open parking
Building Details
Year built
1979
Listing Agency:
North Potomac/Rockville
(301) 975-9500
Listed By:
Rich Morenoff
Added: Oct 30
Changed: Oct 31
Last Checked: Oct 31 at 5:06AM
MLS# MDMC2259076
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.
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Investment Insights
Based on property information with market context.
This residential income property is a 3-bedroom, 2-bath condo with 1,473 finished square feet. Its renovated kitchen opens to the living room and has granite countertops and stainless steel appliances. A washer and dryer are located in the unit. The sidewalk along the building reaches the unit’s patio, where a separately keyed sliding door provides an alternate entrance. The bedroom doorway was relocated to open into the living room; the original arrangement can be restored. The building dates to 1979, and community parking is available in surface lots for residents and guests.
The property is near the North Bethesda Metro station and retail and dining options including Whole Foods, Seasons 52, China Garden, and Pike & Rose.
The property is near the North Bethesda Metro station and retail and dining options including Whole Foods, Seasons 52, China Garden, and Pike & Rose.
Key Highlights
- 3 bedrooms, 2 bathrooms, and 1,473 finished square feet
- Renovated kitchen with granite counters and stainless steel appliances, open to the living room
- In‑unit washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,321
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$486,420
$486.4K
Cap Rate 7%
$347,443
$347.4K
Cap Rate 9%
$270,233
$270.2K
Market Conditions
NOI Build-Up for 1,473 SF
Gross rent
$47.5K $32.28/SF
− Vacancy
−$3.3K −$2.26/SF
EGI
$44.2K $30.02/SF
− OpEx
−$19.9K −$13.51/SF
NOI
$24.3K $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 Rate 5%
$486,420
Cap Rate 7%
$347,443
Cap Rate 9%
$270,233
Alternative Uses
Best Use
Apartment 5plus
$347.4K
$304.0K – $405.4K
NOI $24,321 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$518.2K
$453.4K – $604.5K
NOI $36,272 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,444
Businesses Nearby
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Business Placement
Demographics for 20852, MD
48,347
Population
23,023
Households
2.1
Avg Household Size
38
Median Age
74%
College-Educated
94%
High-School Grad
8.1 sq mi
ZIP Area
5,969
Density / Sq Mi
$121,496
Median Household Income
$74,519
Median Earnings
$2,212
Median Rent
$646,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The three-bedroom layout includes a renovated kitchen connected to the living room and an in-unit washer and dryer.
Where is this residential income property located?
The property is located at 11323 COMMONWEALTH DR #T2 Rockville, MD.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 3 bedrooms, 2 bathrooms, and 1,473 finished square feet; Renovated kitchen with granite counters and stainless steel appliances, open to the living room; In‑unit washer and dryer
