Condominium Residence with Private
For Sale
$269,900
1320 FENWICK LANE Unit 711, Silver Spring, MD 20910
Hardwood flooring and quartz countertops complement a balcony in a building with fitness, concierge, and rooftop amenities.
Property Size549 SF
Price / SF$491.62
Days on Market279
Property Features for 1320 FENWICK LANE Unit 711
General Information
Standard status
Active
Size
549 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,397
Amenities
private balcony
additional storage unit
sky lounge
rooftop deck
fitness room
concierge
bike storage
free Wi-Fi in common areas
lobby with fireplace
pet-friendly
Building Details
Building Size
549 SF
Year Built
2016
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Jan 22
Changed: Oct 27
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 549-square-foot condominium residence, built in 2016, features engineered hardwood floors, quartz countertops, and a private balcony with eastern exposure and treetop views. An additional storage unit is included. Building amenities include a sky lounge, rooftop deck, fitness room, concierge service, bike storage, Wi-Fi in common areas, and a lobby with a fireplace. The pet-friendly building’s condo fee covers heating, air conditioning, HVAC maintenance, and hot water.
The residence is in downtown Silver Spring, near Metro, shopping, dining, parks, a recreation center, farmers’ markets, and music venues.
The residence is in downtown Silver Spring, near Metro, shopping, dining, parks, a recreation center, farmers’ markets, and music venues.
Key Highlights
- 549‑square‑foot condominium residence built in 2016
- Private balcony with eastern exposure and treetop views
- Engineered hardwood flooring and quartz countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,065
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$181,300
$181.3K
Cap Rate 7%
$129,500
$129.5K
Cap Rate 9%
$100,722
$100.7K
Market Conditions
NOI Build-Up for 549 SF
Gross rent
$17.7K $32.28/SF
− Vacancy
−$1.2K −$2.26/SF
EGI
$16.5K $30.02/SF
− OpEx
−$7.4K −$13.51/SF
NOI
$9.1K $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 Rate 5%
$181,300
Cap Rate 7%
$129,500
Cap Rate 9%
$100,722
Alternative Uses
Best Use
Apartment 5plus
$129.5K
$113.3K – $151.1K
NOI $9,065 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$193.1K
$169.0K – $225.3K
NOI $13,519 @ 7.0% cap · market cap 5.01%
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 - Hardwood flooring and quartz countertops complement a balcony in a building with fitness, concierge, and rooftop amenities.
Where is this residential income property located?
The property is located at 1320 FENWICK LANE Unit 711 Silver Spring, MD.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 549‑square‑foot condominium residence built in 2016; Private balcony with eastern exposure and treetop views; Engineered hardwood flooring and quartz countertops
