Studio Residential Income
For Sale
$120,000
118 MONROE STREET Unit 211, Rockville, MD 20850
The studio combines a private living space with shared recreation areas and on-site building services.
Property Size476 SF
Price / SF$252.10
Days on Market16
Property Features for 118 MONROE STREET Unit 211
General Information
Standard status
Active
Size
476 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,576
Amenities
outdoor swimming pool
fitness center
landscaped courtyards
inviting outdoor spaces
secure building entry
front-desk services
on-site management
Building Details
Building Size
476 SF
Year Built
1971
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Oct 14
Changed: Oct 26
Last Checked: Oct 26 at 3:37PM
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 Jack Realty Group
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Investment Insights
Based on property information with market context.
This 476-square-foot studio condominium at Americana Centre includes natural light, flooring, and closet storage. The building, completed in 1971, offers elevator access, secured entry, front-desk services, and on-site management. Residents can also use an outdoor pool, fitness center, landscaped courtyards, and shared outdoor areas. The condominium association handles common-area and exterior maintenance.
Rockville Metro Station, with Red Line and MARC rail service, is nearby. Rockville Town Square provides restaurants, shops, entertainment, and community events. Parks and everyday services are also in the surrounding area.
Rockville Metro Station, with Red Line and MARC rail service, is nearby. Rockville Town Square provides restaurants, shops, entertainment, and community events. Parks and everyday services are also in the surrounding area.
Key Highlights
- 476‑square‑foot studio condominium
- Built in 1971
- Community amenities include an outdoor pool, fitness center, and landscaped courtyards
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,859
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$157,180
$157.2K
Cap Rate 7%
$112,271
$112.3K
Cap Rate 9%
$87,322
$87.3K
Market Conditions
NOI Build-Up for 476 SF
Gross rent
$15.4K $32.28/SF
− Vacancy
−$1.1K −$2.26/SF
EGI
$14.3K $30.02/SF
− OpEx
−$6.4K −$13.51/SF
NOI
$7.9K $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%
$157,180
Cap Rate 7%
$112,271
Cap Rate 9%
$87,322
Alternative Uses
Best Use
Apartment 5plus
$112.3K
$98.2K – $131.0K
NOI $7,859 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$167.4K
$146.5K – $195.4K
NOI $11,721 @ 7.0% cap · market cap 9.77%
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
3,290
Businesses Nearby
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Business Placement
Demographics for 20850, MD
51,045
Population
22,468
Households
2.3
Avg Household Size
41
Median Age
67%
College-Educated
94%
High-School Grad
14.1 sq mi
ZIP Area
3,620
Density / Sq Mi
$122,691
Median Household Income
$77,679
Median Earnings
$2,277
Median Rent
$687,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The studio combines a private living space with shared recreation areas and on-site building services.
Where is this residential income property located?
The property is located at 118 MONROE STREET Unit 211 Rockville, MD.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: 476‑square‑foot studio condominium; Built in 1971; Community amenities include an outdoor pool, fitness center, and landscaped courtyards
