Residential Income Property with
For Sale
$399,900
1320 FENWICK LANE Unit 301, Silver Spring, MD 20910
The 804-square-foot residence includes in-unit laundry, a separate storage unit, and building amenities.
Property Size804 SF
Price / SF$497.39
Days on Market128
Property Features for 1320 FENWICK LANE Unit 301
General Information
Standard status
Active
Size
804 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,266
Amenities
fitness room
lobby/club room with fireplace
free wi-fi in common areas
sky lounge/party room
roof deck
extra storage unit
Building Details
Building Size
804 SF
Year Built
2016
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Andrea S Alderdice · License #508237
(301) 466-5898
Source:
Jackrealtygroup
Added: Jun 23
Changed: Oct 27
Last Checked: Oct 26 at 3:17PM
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 Long & Foster Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This 804-square-foot residence, built in 2016, features floor-to-ceiling windows on two sides, a Juliette balcony overlooking green space and a fountain, and wood flooring. The kitchen has quartz countertops and stainless steel appliances; a full-size washer and dryer and an additional storage unit are also included.
Building amenities include a fitness room, a lobby and club room with fireplace, a sky lounge and party room, and a roof deck with views toward downtown Bethesda and the Mormon Temple. Common areas offer free Wi-Fi.
The property is across from the Montgomery County Aquatic and Recreation Center and two blocks from Mom’s Organic Market. The Silver Spring Metro station is nearby, with the Purple Line described as upcoming.
Building amenities include a fitness room, a lobby and club room with fireplace, a sky lounge and party room, and a roof deck with views toward downtown Bethesda and the Mormon Temple. Common areas offer free Wi-Fi.
The property is across from the Montgomery County Aquatic and Recreation Center and two blocks from Mom’s Organic Market. The Silver Spring Metro station is nearby, with the Purple Line described as upcoming.
Key Highlights
- 804‑square‑foot residence in a building constructed in 2016
- Juliet balcony overlooks green space and a fountain
- Quartz countertops, stainless steel appliances, and wood flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,275
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,500
$265.5K
Cap Rate 7%
$189,643
$189.6K
Cap Rate 9%
$147,500
$147.5K
Market Conditions
NOI Build-Up for 804 SF
Gross rent
$26.0K $32.28/SF
− Vacancy
−$1.8K −$2.26/SF
EGI
$24.1K $30.02/SF
− OpEx
−$10.9K −$13.51/SF
NOI
$13.3K $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%
$265,500
Cap Rate 7%
$189,643
Cap Rate 9%
$147,500
Alternative Uses
Best Use
Apartment 5plus
$189.6K
$165.9K – $221.3K
NOI $13,275 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$282.8K
$247.5K – $330.0K
NOI $19,798 @ 7.0% cap · market cap 4.95%
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
5,121
Businesses Nearby
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Business Placement
Demographics for 20910, MD
45,610
Population
23,209
Households
2
Avg Household Size
36
Median Age
74%
College-Educated
95%
High-School Grad
4.6 sq mi
ZIP Area
9,915
Density / Sq Mi
$107,994
Median Household Income
$70,022
Median Earnings
$1,992
Median Rent
$690,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The 804-square-foot residence includes in-unit laundry, a separate storage unit, and building amenities.
Where is this residential income property located?
The property is located at 1320 FENWICK LANE Unit 301 Silver Spring, MD.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 804‑square‑foot residence in a building constructed in 2016; Juliet balcony overlooks green space and a fountain; Quartz countertops, stainless steel appliances, and wood flooring
