Top-Floor Residential Income
For Sale
$859,000
11430 STRAND Unit 415, North Bethesda, MD 20852
Three-bedroom condominium with updated flooring, in-unit laundry, and two indoor garage spaces.
Property Size1,822 SF
Price / SF$471.46
Days on Market14
Property Features for 11430 STRAND Unit 415
General Information
Standard status
Active
Size
1,822 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$9,748
Building Details
Building Size
1,822 SF
Year Built
1980
Listing Agency:
Weichert, REALTORS
(301) 674-7737
Listed By:
Jody Goren · License #501113
(301) 674-7737
Source:
Kerishull
Added: Aug 18
Changed: Aug 29
Last Checked: Aug 30 at 10:13PM
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 Weichert, REALTORS
Investment Insights
Based on property information with market context.
This 1980-built condominium is a top-floor end unit with three bedrooms, 2.5 baths, and a layout that includes formal living and dining rooms. The kitchen offers table space and a butler’s pantry. Recent interior updates include fresh paint and wood-look flooring, while in-unit laundry and two indoor garage spaces add practical convenience.
Old Georgetown Village Condominiums provides a range of shared amenities, including a pool, tennis and pickleball courts, fitness center, and community room. The community is situated in a wooded setting near Whole Foods, North Bethesda Metro, and Pike and Rose, with professional management on site.
Old Georgetown Village Condominiums provides a range of shared amenities, including a pool, tennis and pickleball courts, fitness center, and community room. The community is situated in a wooded setting near Whole Foods, North Bethesda Metro, and Pike and Rose, with professional management on site.
Key Highlights
- Top‑floor end‑unit condominium with three bedrooms and 2.5 baths
- Freshly painted interior with newly installed wood‑look flooring
- Table‑space kitchen with butler’s pantry
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
$30,083
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
3.50%
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%
$601,660
$601.7K
Cap Rate 7%
$429,757
$429.8K
Cap Rate 9%
$334,256
$334.3K
Market Conditions
NOI Build-Up for 1,822 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
$58.8K $32.28/SF
− Vacancy
−$4.1K −$2.26/SF
EGI
$54.7K $30.02/SF
− OpEx
−$24.6K −$13.51/SF
NOI
$30.1K $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%
$601,660
Cap Rate 7%
$429,757
Cap Rate 9%
$334,256
Alternative Uses
Best Use
Apartment 5plus
$429.8K
$376.0K – $501.4K
NOI $30,083 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$640.9K
$560.8K – $747.8K
NOI $44,866 @ 7.0% cap · market cap 5.22%
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 - Three-bedroom condominium with updated flooring, in-unit laundry, and two indoor garage spaces.
Where is this residential income property located?
The property is located at 11430 STRAND Unit 415 North Bethesda, MD.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: Top‑floor end‑unit condominium with three bedrooms and 2.5 baths; Freshly painted interior with newly installed wood‑look flooring; Table‑space kitchen with butler’s pantry
