Residential Income Condo with
For Sale
$295,000
14809 PENNFIELD CIRCLE Unit 309, Silver Spring, MD 20906
The two-bedroom residence includes updated finishes, an eat-in kitchen, and a separate dining room.
Property Size1,167 SF
Price / SF$252.78
Days on Market24
Property Features for 14809 PENNFIELD CIRCLE Unit 309
General Information
Standard status
Active
Size
1,167 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$3,264
Building Details
Building Size
1,167 SF
Year Built
1996
Listing Agency:
RE/MAX Realty Services
Listed By:
Andrew A Werner Jr. · License #28493
(301) 252-4770
Source:
Signaturemoverealestate
Added: Oct 9
Changed: Oct 31
Last Checked: Oct 31 at 8:17AM
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 RE/MAX Realty Services
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Investment Insights
Based on property information with market context.
This 1,353-square-foot condominium, built in 1996, has two bedrooms and two bathrooms. Its layout includes an eat-in kitchen, formal dining room, family room, and a sunroom accessible from both the family room and a bedroom. Recent interior work includes luxury vinyl plank flooring, fresh paint, quartz countertops, and updated kitchen fixtures. The stove and washer and dryer were replaced in 2024; the kitchen sink and faucet were updated in 2026.
The unit includes one assigned garage parking space and a secure storage unit. The gated community has three entrances, two clubhouses, indoor and outdoor pools, a fitness center, an 18-hole golf course, tennis and pickleball courts, restaurants, walking paths, 24-hour security, and bus service to community amenities and local shopping. Elevator access is available in the building.
The unit includes one assigned garage parking space and a secure storage unit. The gated community has three entrances, two clubhouses, indoor and outdoor pools, a fitness center, an 18-hole golf course, tennis and pickleball courts, restaurants, walking paths, 24-hour security, and bus service to community amenities and local shopping. Elevator access is available in the building.
Key Highlights
- Two bedrooms and two bathrooms in 1,353 square feet
- Sunroom connects to the family room and a bedroom
- One assigned garage parking space and secure storage unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,269
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$385,380
$385.4K
Cap Rate 7%
$275,271
$275.3K
Cap Rate 9%
$214,100
$214.1K
Market Conditions
NOI Build-Up for 1,167 SF
Gross rent
$37.7K $32.28/SF
− Vacancy
−$2.6K −$2.26/SF
EGI
$35.0K $30.02/SF
− OpEx
−$15.8K −$13.51/SF
NOI
$19.3K $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%
$385,380
Cap Rate 7%
$275,271
Cap Rate 9%
$214,100
Alternative Uses
Best Use
Apartment 5plus
$275.3K
$240.9K – $321.2K
NOI $19,269 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$410.5K
$359.2K – $479.0K
NOI $28,737 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
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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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Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom residence includes updated finishes, an eat-in kitchen, and a separate dining room.
Where is this residential income property located?
The property is located at 14809 PENNFIELD CIRCLE Unit 309 Silver Spring, MD.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two bedrooms and two bathrooms in 1,353 square feet; Sunroom connects to the family room and a bedroom; One assigned garage parking space and secure storage unit
