Residential Income
New
For Sale
$259,900
1320 FENWICK LN #606, Silver Spring, MD 20910
SILVER SPRING, MD
Property Size460 SF
Price / SF$565
Days on Market5
Property Features for 1320 FENWICK LN #606
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1
Subdivision
DOWNTOWN SILVER SPRING
Elementary school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
Middle school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
High school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
Standard status
Active
Amenities
wood flooring
quartz countertops
in-unit washer/dryer
balcony
stainless steel appliances
club room
concierge services
fitness room
bike storage
sky lounge
roof deck
extra storage unit
Building Details
Year built
2016
Listing Agency:
One Bethesda
(240) 497-1700
Listed By:
Andy Alderdice
(301) 466-5898
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 5 at 2:06PM
MLS# MDMC2253954
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 460-square-foot condominium at 1320 Fenwick Ln #606 includes one bedroom and one bathroom within a building completed in 2016. The interior features wood flooring, quartz countertops, stainless steel appliances, and an in-unit washer and dryer. A balcony and separate storage unit add to the unit’s functional layout.
Residents have access to a lobby and club room with a fireplace and Wi-Fi, concierge services, a fitness room, bike storage, a sky lounge, and a roof deck. The property is positioned near the Silver Spring Metro Red Line and the upcoming Purple Line. Mom’s Organic Market is two blocks away, while the Montgomery County Aquatic Recreation Center is across the street and Woodside Park is one block away. The roof deck offers western views toward downtown Bethesda and the Mormon Temple.
Residents have access to a lobby and club room with a fireplace and Wi-Fi, concierge services, a fitness room, bike storage, a sky lounge, and a roof deck. The property is positioned near the Silver Spring Metro Red Line and the upcoming Purple Line. Mom’s Organic Market is two blocks away, while the Montgomery County Aquatic Recreation Center is across the street and Woodside Park is one block away. The roof deck offers western views toward downtown Bethesda and the Mormon Temple.
Key Highlights
- 460‑square‑foot one‑bedroom, one‑bathroom condominium
- Built in 2016 with 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 = 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
$7,595
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
2.92%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,121
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - A one-bedroom condominium combines quartz finishes, in-unit laundry, a balcony, and extensive shared amenities.
Where is this residential income property located?
The property is located at 1320 FENWICK LN #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 with wood flooring, quartz countertops, and stainless steel appliances; In‑unit washer and dryer, balcony, and separate storage unit
