2-Bedroom Residential
15616 EVERGLADE LANE Unit 303, Bowie, MD 20716
For Sale
$255,000
An elevator-served unit combines a private balcony, in-home laundry and access to community recreation.
Property Size843 SF
Days on Market14
Property Features for 15616 EVERGLADE LANE Unit 303
General Information
Standard status
Size
Elevators
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Taxes and HOA fees
Annual Taxes
Amenities
swimming pool
walking paths
playgrounds
scenic lake
private balcony
in-unit laundry
fireplace
Building Details
Building Size
Year Built
Listing Agency:
EXP Realty, LLC
Listed By:
Stephanie H Ireland · License #602141
(202) 438-8402
Source:
Bradkappel
Added: Oct 27
Changed: Nov 8
Last Checked: Nov 8 at 3:54PM
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 EXP Realty, LLC
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Investment Insights
Based on property information with market context.
This two-bedroom, two-bath residence occupies the third floor of a secure elevator building. Its open layout includes wood flooring, a fireplace, a private balcony and in-unit laundry. The primary suite has two closets and a private full bath. HVAC was replaced in June 2026, the water heater in 2025, and the washer and dryer in 2024.
Community features include a swimming pool, walking paths, playgrounds, a lake and open parking. Bowie Town Center is steps away, with Routes 50, 301, 495 and 197 nearby. The community is approved for FHA financing.
Community features include a swimming pool, walking paths, playgrounds, a lake and open parking. Bowie Town Center is steps away, with Routes 50, 301, 495 and 197 nearby. The community is approved for FHA financing.
Key Highlights
- Two bedrooms and two full bathrooms
- Third‑floor residence in a secure elevator building
- Private balcony, fireplace, wood flooring and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,349
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$226,980
$227.0K
Cap Rate 7%
$162,129
$162.1K
Cap Rate 9%
$126,100
$126.1K
Market Conditions
NOI Build-Up for 843 SF
Gross rent
$22.0K $26.04/SF
− Vacancy
−$1.3K −$1.56/SF
EGI
$20.6K $24.48/SF
− OpEx
−$9.3K −$11.01/SF
NOI
$11.3K $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%
$226,980
Cap Rate 7%
$162,129
Cap Rate 9%
$126,100
Alternative Uses
Best Use
Apartment 5plus
$162.1K
$141.9K – $189.2K
NOI $11,349 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$271.9K
$238.0K – $317.3K
NOI $19,036 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
852
Businesses Nearby
Explore this area
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
$405,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - An elevator-served unit combines a private balcony, in-home laundry and access to community recreation.
Where is this residential income property located?
The property is located at 15616 EVERGLADE LANE Unit 303 Bowie, MD.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Two bedrooms and two full bathrooms; Third‑floor residence in a secure elevator building; Private balcony, fireplace, wood flooring and in‑unit laundry
