Main-Level Residential Income
For Sale
$210,000
1603 CARRIAGE HOUSE TERRACE Unit 1603-D, Silver Spring, MD 20904
A step-free layout includes access through the residence or its garage.
Property Size702 SF
Price / SF$299.15
Days on Market138
Property Features for 1603 CARRIAGE HOUSE TERRACE Unit 1603-D
General Information
Standard status
Active
Size
702 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,939
Amenities
garage
stainless steel appliances
washer/dryer
Building Details
Building Size
702 SF
Year Built
1986
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Jun 13
Changed: Oct 27
Last Checked: Oct 26 at 3:55PM
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 Jack Realty Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 702-square-foot residential income property is arranged on the main level with no steps. Entry is available through the main door or directly from the garage, which has an opener. The interior has a renovated bathroom, new drywall and fresh paint, along with stainless steel appliances and a range hood. A stacked washer and dryer are included, and the HVAC system is described as almost new. The property was built in 1986.
Key Highlights
- 702‑square‑foot main‑level residence with no steps
- Garage entry with opener, plus access through the main door
- Renovated bathroom, new drywall and fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,591
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$231,820
$231.8K
Cap Rate 7%
$165,586
$165.6K
Cap Rate 9%
$128,789
$128.8K
Market Conditions
NOI Build-Up for 702 SF
Gross rent
$22.7K $32.28/SF
− Vacancy
−$1.6K −$2.26/SF
EGI
$21.1K $30.02/SF
− OpEx
−$9.5K −$13.51/SF
NOI
$11.6K $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%
$231,820
Cap Rate 7%
$165,586
Cap Rate 9%
$128,789
Alternative Uses
Best Use
Apartment 5plus
$165.6K
$144.9K – $193.2K
NOI $11,591 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$246.9K
$216.1K – $288.1K
NOI $17,286 @ 7.0% cap · market cap 8.23%
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
549
Businesses Nearby
Explore this area
Business Placement
Demographics for 20904, MD
59,051
Population
22,366
Households
2.6
Avg Household Size
40
Median Age
50%
College-Educated
90%
High-School Grad
13.7 sq mi
ZIP Area
4,310
Density / Sq Mi
$93,322
Median Household Income
$48,349
Median Earnings
$1,893
Median Rent
$533,500
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - A step-free layout includes access through the residence or its garage.
Where is this residential income property located?
The property is located at 1603 CARRIAGE HOUSE TERRACE Unit 1603-D Silver Spring, MD.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: 702‑square‑foot main‑level residence with no steps; Garage entry with opener, plus access through the main door; Renovated bathroom, new drywall and fresh paint
