Renovated Three-Bedroom Residential Income
15315 DIAMOND COVE TERRACE Unit 3-7, Rockville, MD 20850
For Sale
$399,999
A first-floor, step-free layout is served by a ramp from the parking area and includes an accessible parking space directly outside.
Property Size1,119 SF
Price / SF$357.46
Days on Market33
Property Features for 15315 DIAMOND COVE TERRACE Unit 3-7
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Year Renovated
Listing Agency:
Hinton Heritage Homes, LLC
Listed By:
Eugenia B Hinton · License #5219
(301) 947-9695
Source:
Signaturemoverealestate
Added: Oct 7
Changed: Nov 8
Last Checked: Nov 8 at 1:52PM
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 Hinton Heritage Homes, LLC
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Investment Insights
Based on property information with market context.
This 1,119-square-foot, three-bedroom, two-bath residence was built in 1992 and occupies an end-unit position on the first floor. Interior work completed from 2024 through 2026 includes new laminate flooring, paint, crown molding, windows, and a sliding glass door. The kitchen has new cabinetry, granite counters, and stainless-steel appliances; both bathrooms have also been updated. A gas fireplace and French doors are among the interior features, and the home has a new HVAC system and water heater.
The layout provides step-free entry from the parking area by ramp, with an accessible parking space immediately outside. The home has been held by its original owner and was never rented.
The layout provides step-free entry from the parking area by ramp, with an accessible parking space immediately outside. The home has been held by its original owner and was never rented.
Key Highlights
- 1,119 square feet with 3 bedrooms and 2 full baths
- First‑floor end unit with step‑free access via a ramp from the parking area
- Accessible parking space directly in front of the units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,476
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,520
$369.5K
Cap Rate 7%
$263,943
$263.9K
Cap Rate 9%
$205,289
$205.3K
Market Conditions
NOI Build-Up for 1,119 SF
Gross rent
$36.1K $32.28/SF
− Vacancy
−$2.5K −$2.26/SF
EGI
$33.6K $30.02/SF
− OpEx
−$15.1K −$13.51/SF
NOI
$18.5K $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%
$369,520
Cap Rate 7%
$263,943
Cap Rate 9%
$205,289
Alternative Uses
Best Use
Apartment 5plus
$263.9K
$231.0K – $307.9K
NOI $18,476 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$393.6K
$344.4K – $459.3K
NOI $27,555 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
Explore this area
Business Placement
Demographics for 20850, MD
51,045
Population
22,468
Households
2.3
Avg Household Size
41
Median Age
67%
College-Educated
94%
High-School Grad
14.1 sq mi
ZIP Area
3,620
Density / Sq Mi
$122,691
Median Household Income
$77,679
Median Earnings
$2,277
Median Rent
$687,200
Median Home Value
Market
Average Price Trend$/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 - A first-floor, step-free layout is served by a ramp from the parking area and includes an accessible parking space directly outside.
Where is this residential income property located?
The property is located at 15315 DIAMOND COVE TERRACE Unit 3-7 Rockville, MD.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: 1,119 square feet with 3 bedrooms and 2 full baths; First‑floor end unit with step‑free access via a ramp from the parking area; Accessible parking space directly in front of the units
