Renovated Residential Income
For Sale
$699,000
11430 STRAND DRIVE Unit 111, Rockville, MD 20852
Two-level residence with updated interiors, private outdoor space, assigned parking, and community amenities.
Property Size1,672 SF
Days on Market20
Property Features for 11430 STRAND DRIVE Unit 111
General Information
Standard status
Active
Size
1,672 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$6,202
Building Details
Building Size
1,672 SF
Year Built
1980
Listing Agency:
Redfin Corp
Listed By:
Thomas K Paolini · License #627794
(301) 471-4302
Source:
Barnesrealestatecompany
Added: Sep 16
Changed: Oct 3
Last Checked: Oct 4 at 3:13PM
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 Redfin Corp
Investment Insights
Based on property information with market context.
This two-level residential income property includes two bedrooms, two renovated full bathrooms, and a powder room. The main floor combines an updated kitchen with separate living and dining areas, while the upper level provides two private bedroom suites. A private patio extends the usable living space outdoors. The property was built in 1980 and includes two assigned parking spaces and two separate storage units, with the parking and storage separately taxed.
Community features include a pool, tennis courts, fitness center, landscaped grounds, and secure building access. The property is located on Strand Drive in Rockville, close to Pike & Rose, Whole Foods, North Bethesda Market, and local shopping and dining. The North Bethesda/White Flint Metro Station on the Red Line is less than a mile away, with access to I-270 and the Capital Beltway. Wall Local Park, Josiah Henson Museum and Park, Rock Creek Regional Park, and Lake Needwood are also nearby.
Community features include a pool, tennis courts, fitness center, landscaped grounds, and secure building access. The property is located on Strand Drive in Rockville, close to Pike & Rose, Whole Foods, North Bethesda Market, and local shopping and dining. The North Bethesda/White Flint Metro Station on the Red Line is less than a mile away, with access to I-270 and the Capital Beltway. Wall Local Park, Josiah Henson Museum and Park, Rock Creek Regional Park, and Lake Needwood are also nearby.
Key Highlights
- Two‑bedroom, 2.5‑bathroom residence arranged across two levels
- Updated kitchen, two renovated full bathrooms, and a main‑level powder room
- Two assigned parking spaces and two separate storage units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,607
Cap Rate
3.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$552,140
$552.1K
Cap Rate 7%
$394,386
$394.4K
Cap Rate 9%
$306,744
$306.7K
Market Conditions
NOI Build-Up for 1,672 SF
Gross rent
$54.0K $32.28/SF
− Vacancy
−$3.8K −$2.26/SF
EGI
$50.2K $30.02/SF
− OpEx
−$22.6K −$13.51/SF
NOI
$27.6K $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%
$552,140
Cap Rate 7%
$394,386
Cap Rate 9%
$306,744
Alternative Uses
Best Use
Apartment 5plus
$394.4K
$345.1K – $460.1K
NOI $27,607 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$588.2K
$514.7K – $686.2K
NOI $41,172 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level residence with updated interiors, private outdoor space, assigned parking, and community amenities.
Where is this residential income property located?
The property is located at 11430 STRAND DRIVE Unit 111 Rockville, MD.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑bedroom, 2.5‑bathroom residence arranged across two levels; Updated kitchen, two renovated full bathrooms, and a main‑level powder room; Two assigned parking spaces and two separate storage units
