One-Bedroom
For Sale
$259,900
1320 FENWICK LANE Unit 606, Silver Spring, MD 20910
A 2016-built residence includes in-unit laundry, a balcony, and access to shared building amenities.
Property Size460 SF
Price / SF$565
Days on Market58
Property Features for 1320 FENWICK LANE Unit 606
General Information
Standard status
Active
Size
460 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,090
Amenities
lobby/club room
fireplace
free Wi-Fi
concierge services
fitness room
bike storage
sky lounge
roof deck
in-unit washer and dryer
balcony
Building Details
Building Size
460 SF
Year Built
2016
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Andrea S Alderdice · License #508237
(301) 466-5898
Source:
Jackrealtygroup
Added: Sep 1
Changed: Oct 27
Last Checked: Oct 26 at 2:49PM
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 460-square-foot condominium in Silver Spring has one bedroom and one bathroom. Completed in 2016, the unit features wood flooring, quartz countertops, stainless steel appliances, an in-unit washer and dryer, a balcony, and a separate storage unit. Building amenities include concierge service, a fitness room, bike storage, a club room with fireplace and Wi-Fi, a sky lounge, and a rooftop deck with western views.
The property is steps from the Silver Spring Metro Red Line and near the planned Purple Line. Mom’s Organic Market is two blocks away, Woodside Park is one block away, and the Montgomery County Aquatic & Recreation Center is across the street. Park amenities include tennis and basketball courts, a playground, and picnic areas; the recreation center offers pools, hot tubs, pickleball courts, and fitness facilities.
The property is steps from the Silver Spring Metro Red Line and near the planned Purple Line. Mom’s Organic Market is two blocks away, Woodside Park is one block away, and the Montgomery County Aquatic & Recreation Center is across the street. Park amenities include tennis and basketball courts, a playground, and picnic areas; the recreation center offers pools, hot tubs, pickleball courts, and fitness facilities.
Key Highlights
- 460‑square‑foot, one‑bedroom, one‑bathroom condominium
- Built in 2016; includes wood flooring, quartz countertops, and stainless steel appliances
- In‑unit washer and dryer, balcony, and separate storage unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,595
Cap Rate
2.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$151,900
$151.9K
Cap Rate 7%
$108,500
$108.5K
Cap Rate 9%
$84,389
$84.4K
Market Conditions
NOI Build-Up for 460 SF
Gross rent
$14.8K $32.28/SF
− Vacancy
−$1.0K −$2.26/SF
EGI
$13.8K $30.02/SF
− OpEx
−$6.2K −$13.51/SF
NOI
$7.6K $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%
$151,900
Cap Rate 7%
$108,500
Cap Rate 9%
$84,389
Alternative Uses
Best Use
Apartment 5plus
$108.5K
$94.9K – $126.6K
NOI $7,595 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$161.8K
$141.6K – $188.8K
NOI $11,327 @ 7.0% cap · market cap 4.36%
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 - A 2016-built residence includes in-unit laundry, a balcony, and access to shared building amenities.
Where is this residential income property located?
The property is located at 1320 FENWICK LANE Unit 606 Silver Spring, MD.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 460‑square‑foot, one‑bedroom, one‑bathroom condominium; Built in 2016; includes wood flooring, quartz countertops, and stainless steel appliances; In‑unit washer and dryer, balcony, and separate storage unit
