Top-Floor Residential Income
14809 PENNFIELD CIRCLE Unit 405, Silver Spring, MD 20906
For Sale
$204,900
Located in a gated 55+ community with golf, swimming, tennis, and pickleball amenities.
Property Size946 SF
Price / SF$216.60
Days on Market72
Property Features for 14809 PENNFIELD CIRCLE Unit 405
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
clubhouses
golf course
indoor and outdoor swimming pools
tennis courts
pickleball courts
fitness and recreation facilities
walking paths
Building Details
Building Size
Year Built
Listing Agency:
Realty Advantage of Maryland LLC
Listed By:
Oscar Sayan · License #630928
(240) 426-2992
Source:
Signaturemoverealestate
Added: Aug 29
Changed: Oct 31
Last Checked: Nov 7 at 10:11AM
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 Realty Advantage of Maryland LLC
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Investment Insights
Based on property information with market context.
This 946-square-foot, top-floor residence has one bedroom, one full bathroom, and a half bath. The living and dining areas form the main shared space, while the bedroom includes its own full bath and closet space. The property was built in 1996.
The home is part of a gated 55+ community with multiple clubhouses, a golf course, indoor and outdoor pools, tennis and pickleball courts, fitness and recreation facilities, walking paths, and organized activities. Shopping, restaurants, medical services, and major transportation routes are also identified in the surrounding area.
The home is part of a gated 55+ community with multiple clubhouses, a golf course, indoor and outdoor pools, tennis and pickleball courts, fitness and recreation facilities, walking paths, and organized activities. Shopping, restaurants, medical services, and major transportation routes are also identified in the surrounding area.
Key Highlights
- 946‑square‑foot, one‑bedroom residence with 1.5 baths
- Top‑floor unit in a gated 55+ community
- Community amenities include a golf course, indoor and outdoor pools, tennis and pickleball courts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,620
Cap Rate
7.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$312,400
$312.4K
Cap Rate 7%
$223,143
$223.1K
Cap Rate 9%
$173,556
$173.6K
Market Conditions
NOI Build-Up for 946 SF
Gross rent
$30.5K $32.28/SF
− Vacancy
−$2.1K −$2.26/SF
EGI
$28.4K $30.02/SF
− OpEx
−$12.8K −$13.51/SF
NOI
$15.6K $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%
$312,400
Cap Rate 7%
$223,143
Cap Rate 9%
$173,556
Alternative Uses
Best Use
Apartment 5plus
$223.1K
$195.3K – $260.3K
NOI $15,620 @ 7.0% cap · market cap 7.62%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$332.8K
$291.2K – $388.3K
NOI $23,295 @ 7.0% cap · market cap 11.37%
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
458
Businesses Nearby
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Business Placement
Demographics for 20906, MD
71,641
Population
27,423
Households
2.6
Avg Household Size
41
Median Age
42%
College-Educated
87%
High-School Grad
12.7 sq mi
ZIP Area
5,641
Density / Sq Mi
$92,964
Median Household Income
$46,172
Median Earnings
$1,945
Median Rent
$440,600
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Montgomery County, MD
Properties on Market for Residential income properties in Montgomery County
Frequently Asked Questions
What type of property is this?
Residential income property - Located in a gated 55+ community with golf, swimming, tennis, and pickleball amenities.
Where is this residential income property located?
The property is located at 14809 PENNFIELD CIRCLE Unit 405 Silver Spring, MD.
What is the asking price?
The asking price for this property is $204,900.
What are key features of this property?
This property features: 946‑square‑foot, one‑bedroom residence with 1.5 baths; Top‑floor unit in a gated 55+ community; Community amenities include a golf course, indoor and outdoor pools, tennis and pickleball courts
