Two-Bedroom Condominium with
15614 EVERGLADE LANE Unit 306, Bowie, MD 20716
For Sale
$260,000
Separate dining space and a community swimming pool add useful features to this condominium residence.
Property Size1,030 SF
Days on Market66
Property Features for 15614 EVERGLADE LANE Unit 306
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
private balcony
swimming pool
Building Details
Building Size
Year Built
Listing Agency:
Bennett Realty Solutions
Listed By:
Cheryll A March · License #623738
(301) 806-8117
Source:
Bradkappel
Added: Sep 5
Changed: Nov 8
Last Checked: Nov 8 at 4:32PM
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 Bennett Realty Solutions
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Investment Insights
Based on property information with market context.
Built in 2004, this two-bedroom, two-bath condominium has a living area, separate dining space, and functional kitchen. The primary bedroom includes a private bathroom, while the second bedroom is served by another full bath. A private balcony extends the living area outdoors, and community amenities include parking and a swimming pool.
The residence is in Bowie, near Bowie Town Center, shopping, restaurants, entertainment, and major commuter routes. The current lease runs through November 30, 2026; the tenant may remain if the lease is extended.
The residence is in Bowie, near Bowie Town Center, shopping, restaurants, entertainment, and major commuter routes. The current lease runs through November 30, 2026; the tenant may remain if the lease is extended.
Key Highlights
- Two bedrooms and two full bathrooms
- Private balcony
- Community swimming pool and parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,867
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$277,340
$277.3K
Cap Rate 7%
$198,100
$198.1K
Cap Rate 9%
$154,078
$154.1K
Market Conditions
NOI Build-Up for 1,030 SF
Gross rent
$26.8K $26.04/SF
− Vacancy
−$1.6K −$1.56/SF
EGI
$25.2K $24.48/SF
− OpEx
−$11.3K −$11.01/SF
NOI
$13.9K $13.46/SF
Area
Prince George's County, MD
Vacancy
6.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$277,340
Cap Rate 7%
$198,100
Cap Rate 9%
$154,078
Alternative Uses
Best Use
Apartment 5plus
$198.1K
$173.3K – $231.1K
NOI $13,867 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$332.3K
$290.7K – $387.7K
NOI $23,259 @ 7.0% cap · market cap 8.95%
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
852
Businesses Nearby
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Business Placement
Demographics for 20716, MD
22,874
Population
9,492
Households
2.4
Avg Household Size
41
Median Age
49%
College-Educated
94%
High-School Grad
11.5 sq mi
ZIP Area
1,989
Density / Sq Mi
$122,683
Median Household Income
$66,987
Median Earnings
$2,140
Median Rent
$405,900
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Prince George's County, MD
Properties on Market for Residential income properties in Prince George's County
Frequently Asked Questions
What type of property is this?
Residential income property - Separate dining space and a community swimming pool add useful features to this condominium residence.
Where is this residential income property located?
The property is located at 15614 EVERGLADE LANE Unit 306 Bowie, MD.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two bedrooms and two full bathrooms; Private balcony; Community swimming pool and parking
