Residential Income Property with
For Sale
$235,000
15101 INTERLACHEN DRIVE Unit 1-924, Silver Spring, MD 20906
Sixth-floor condominium with two bedrooms, an enclosed porch, and access to extensive community amenities.
Property Size1,210 SF
Price / SF$194.21
Days on Market125
Property Features for 15101 INTERLACHEN DRIVE Unit 1-924
General Information
Standard status
Active
Size
1,210 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,262
Amenities
secure entry
elevator access
beautifully maintained common areas
two clubhouses
three restaurants
indoor and outdoor swimming pools
state-of-the-art fitness center
tennis and pickleball courts
18-hole championship golf course with pro shop and driving range
walking paths
community gardens
library
art and woodworking studios
ceramics studio
ballroom
meeting rooms
more than 80 clubs, organizations, and social activities
24-hour gated security
on-site MedStar Health Medical Center
garage parking
community transportation
beautifully landscaped grounds
Building Details
Building Size
1,210 SF
Year Built
1984
Tenancy
Single
Listing Agency:
Compass
Listed By:
Merilee B Paran · License #590321
(240) 216-0688
Source:
Signaturemoverealestate
Added: Jun 30
Changed: Oct 31
Last Checked: Oct 31 at 8:53AM
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 Compass
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Investment Insights
Based on property information with market context.
This 1,520-square-foot condominium is on the sixth floor of Building One at The Greens. The single-level floor plan has two bedrooms, a study, a dining room, and a living room that opens onto an enclosed porch. The primary suite includes a walk-in closet, dressing area, and ADA-accessible full bath; a second full bath serves the additional bedroom. New carpeting, elevator access, secure entry, and common areas are also features of the building. The property was built in 1984.
The residence is within Leisure World, a gated 55+ community in Silver Spring, Maryland. Community amenities include two clubhouses, three restaurants, indoor and outdoor pools, a fitness center, tennis and pickleball courts, and an 18-hole golf course. Other facilities and services include walking paths, community gardens, studios, a library, garage parking, transportation, and an on-site MedStar Health Medical Center. Shopping, dining, medical facilities, Metro, the ICC, and I-495 are identified as nearby.
The residence is within Leisure World, a gated 55+ community in Silver Spring, Maryland. Community amenities include two clubhouses, three restaurants, indoor and outdoor pools, a fitness center, tennis and pickleball courts, and an 18-hole golf course. Other facilities and services include walking paths, community gardens, studios, a library, garage parking, transportation, and an on-site MedStar Health Medical Center. Shopping, dining, medical facilities, Metro, the ICC, and I-495 are identified as nearby.
Key Highlights
- 1,520‑square‑foot, sixth‑floor condominium in Building One at The Greens
- Two bedrooms, a study, and two full baths
- Enclosed porch off the living room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,979
Cap Rate
8.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$399,580
$399.6K
Cap Rate 7%
$285,414
$285.4K
Cap Rate 9%
$221,989
$222.0K
Market Conditions
NOI Build-Up for 1,210 SF
Gross rent
$39.1K $32.28/SF
− Vacancy
−$2.7K −$2.26/SF
EGI
$36.3K $30.02/SF
− OpEx
−$16.3K −$13.51/SF
NOI
$20.0K $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%
$399,580
Cap Rate 7%
$285,414
Cap Rate 9%
$221,989
Alternative Uses
Best Use
Apartment 5plus
$285.4K
$249.7K – $333.0K
NOI $19,979 @ 7.0% cap · market cap 8.50%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$425.6K
$372.4K – $496.6K
NOI $29,795 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
496
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 - Sixth-floor condominium with two bedrooms, an enclosed porch, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 15101 INTERLACHEN DRIVE Unit 1-924 Silver Spring, MD.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 1,520‑square‑foot, sixth‑floor condominium in Building One at The Greens; Two bedrooms, a study, and two full baths; Enclosed porch off the living room
