Updated Two-Bedroom
For Sale
$195,000
18521 BOYSENBERRY DRIVE Unit 242-172, Gaithersburg, MD 20879
First-level residence with renovated interiors, private patio, assigned parking, and access to community recreation amenities.
Property Size962 SF
Days on Market527
Property Features for 18521 BOYSENBERRY DRIVE Unit 242-172
General Information
Standard status
Active
Size
962 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$1,427
Building Details
Building Size
962 SF
Year Built
1988
Listing Agency:
TTR Sotheby's International Realty
Listed By:
Megan Bonanno · License #670648
(202) 683-7290
Source:
Thehulsmangroup
Added: May 13, 2025
Changed: Oct 11
Last Checked: Oct 21 at 4:04AM
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 TTR Sotheby's International Realty
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Investment Insights
Based on property information with market context.
This first-level condominium includes two bedrooms and one bathroom, with updates spanning the kitchen, flooring, and bathroom. The remodeled kitchen has stainless steel appliances and opens to a living and dining area with new luxury vinyl plank flooring. The primary bedroom also features new luxury vinyl plank flooring and ample closet space, while the secondary bedroom offers large windows and a generous closet. A private patio extends the living area toward a green setting.
Built in 1988, the residence includes an assigned parking space and is located within a pet-friendly condominium community offering tennis courts, a swimming pool, picnic area, playground, and fitness center. The property is near Lake Forest Mall, local libraries, Montgomery Village lakes, Costco, shopping centers, Seneca Creek State Park, I-270, I-370, Metro bus stops, and Gaithersburg MARC.
Built in 1988, the residence includes an assigned parking space and is located within a pet-friendly condominium community offering tennis courts, a swimming pool, picnic area, playground, and fitness center. The property is near Lake Forest Mall, local libraries, Montgomery Village lakes, Costco, shopping centers, Seneca Creek State Park, I-270, I-370, Metro bus stops, and Gaithersburg MARC.
Key Highlights
- Updated 2‑bedroom, 1‑bathroom first‑level condominium
- Remodeled kitchen with stainless steel appliances
- New luxury vinyl plank flooring in living area and primary bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,884
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$317,680
$317.7K
Cap Rate 7%
$226,914
$226.9K
Cap Rate 9%
$176,489
$176.5K
Market Conditions
NOI Build-Up for 962 SF
Gross rent
$31.1K $32.28/SF
− Vacancy
−$2.2K −$2.26/SF
EGI
$28.9K $30.02/SF
− OpEx
−$13.0K −$13.51/SF
NOI
$15.9K $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%
$317,680
Cap Rate 7%
$226,914
Cap Rate 9%
$176,489
Alternative Uses
Best Use
Apartment 5plus
$226.9K
$198.6K – $264.7K
NOI $15,884 @ 7.0% cap · market cap 8.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$338.4K
$296.1K – $394.8K
NOI $23,689 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,476
Businesses Nearby
Explore this area
Business Placement
Demographics for 20879, MD
26,176
Population
9,008
Households
2.9
Avg Household Size
37
Median Age
42%
College-Educated
87%
High-School Grad
8.6 sq mi
ZIP Area
3,044
Density / Sq Mi
$105,109
Median Household Income
$49,269
Median Earnings
$1,895
Median Rent
$433,500
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - First-level residence with renovated interiors, private patio, assigned parking, and access to community recreation amenities.
Where is this residential income property located?
The property is located at 18521 BOYSENBERRY DRIVE Unit 242-172 Gaithersburg, MD.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Updated 2‑bedroom, 1‑bathroom first‑level condominium; Remodeled kitchen with stainless steel appliances; New luxury vinyl plank flooring in living area and primary bedroom
