Two-Bedroom Condominium with
11400 STRAND DRIVE Unit 307, Rockville, MD 20852
For Sale
$549,000
Pending
The residence includes a fireplace, custom kitchen cabinetry, a garage space, and private storage near the lobby.
Property Size1,483 SF
Days on Market17
Property Features for 11400 STRAND DRIVE Unit 307
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
pool
pickle ball
tennis
party room
Building Details
Building Size
Year Built
Listing Agency:
Weichert, REALTORS
Listed By:
Dale J Gold · License #517962
(301) 437-3253
Source:
Kerishull
Added: Oct 23
Changed: Nov 6
Last Checked: Nov 8 at 2:36PM
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 Weichert, REALTORS
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Investment Insights
Based on property information with market context.
This 1,483-square-foot condominium, built in 1980, has two bedrooms and a living room with a fireplace. The kitchen features custom wood cabinetry with rollout shelves, newer stainless steel appliances, recessed lighting, and a pocket door. Large newer windows are fitted with plantation shutters, and the primary bedroom includes several closets, including a custom walk-in. A private storage room and garage space are located near the lobby entrance.
An expansive 17-foot balcony extends the living area outdoors. The residential community offers a pool, pickleball and tennis courts, and a party room. The property is on a private road, with access to transportation, restaurants, shopping, and other amenities.
An expansive 17-foot balcony extends the living area outdoors. The residential community offers a pool, pickleball and tennis courts, and a party room. The property is on a private road, with access to transportation, restaurants, shopping, and other amenities.
Key Highlights
- 1,483‑square‑foot condominium built in 1980
- Two bedrooms, including a primary suite with a custom walk‑in closet
- 17‑foot balcony
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,486
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$489,720
$489.7K
Cap Rate 7%
$349,800
$349.8K
Cap Rate 9%
$272,067
$272.1K
Market Conditions
NOI Build-Up for 1,483 SF
Gross rent
$47.9K $32.28/SF
− Vacancy
−$3.4K −$2.26/SF
EGI
$44.5K $30.02/SF
− OpEx
−$20.0K −$13.51/SF
NOI
$24.5K $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%
$489,720
Cap Rate 7%
$349,800
Cap Rate 9%
$272,067
Alternative Uses
Best Use
Apartment 5plus
$349.8K
$306.1K – $408.1K
NOI $24,486 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$521.7K
$456.5K – $608.6K
NOI $36,518 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,625
Businesses Nearby
Explore this area
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
$646,100
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Montgomery County, MD
Properties on Market for Residential income properties in Montgomery County
Frequently Asked Questions
What type of property is this?
Residential income property - The residence includes a fireplace, custom kitchen cabinetry, a garage space, and private storage near the lobby.
Where is this residential income property located?
The property is located at 11400 STRAND DRIVE Unit 307 Rockville, MD.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 1,483‑square‑foot condominium built in 1980; Two bedrooms, including a primary suite with a custom walk‑in closet; 17‑foot balcony
