Two-Bedroom Condo with Private
For Sale
$279,000
18148 WINDSOR HILL DRIVE Unit 202B, Olney, MD 20832
Updated interiors, assigned parking, and community recreation complement views across the lake.
Property Size1,032 SF
Days on Market9
Property Features for 18148 WINDSOR HILL DRIVE Unit 202B
General Information
Standard status
Active
Size
1,032 SF
Total Parking Spaces
1
Property subtype
Interior Row/Townhouse
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,732
Amenities
lake view
private deck
wood-burning fireplace
private outdoor storage
community pool
tennis courts
pickleball courts
jogging/walking paths
playground
clubhouse
in-unit laundry
Building Details
Building Size
1,032 SF
Year Built
1987
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Diana Faulkner · License #593228
(301) 318-0334
Source:
Thehulsmangroup
Added: Sep 28
Changed: Oct 5
Last Checked: Oct 4 at 5:10PM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
Built in 1987, this two-level condominium has two bedrooms and a full bathroom upstairs, with laundry located on the bedroom level. The main floor combines living and dining areas around a wood-burning fireplace, plus a powder room and kitchen with ample cabinetry. A private rear deck faces the community lake. Recent improvements include fresh paint, new upper-level carpet, main-level LVP flooring, replacement windows and storm door, updated front stairs, and new refrigerator, dishwasher, and washing machine. Private outdoor storage and one assigned parking space are also included, with additional guest parking available.
Fair Hill residents have access to a community pool, tennis and pickleball courts, walking and jogging routes, trails, playgrounds, and a clubhouse. Downtown Olney, with dining, shopping, and entertainment options, is a short drive away.
Fair Hill residents have access to a community pool, tennis and pickleball courts, walking and jogging routes, trails, playgrounds, and a clubhouse. Downtown Olney, with dining, shopping, and entertainment options, is a short drive away.
Key Highlights
- Two bedrooms and one full bathroom in the upper‑level sleeping area
- Private rear deck with views of the community lake
- Wood‑burning fireplace in the living and dining area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,040
Cap Rate
6.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$340,800
$340.8K
Cap Rate 7%
$243,429
$243.4K
Cap Rate 9%
$189,333
$189.3K
Market Conditions
NOI Build-Up for 1,032 SF
Gross rent
$33.3K $32.28/SF
− Vacancy
−$2.3K −$2.26/SF
EGI
$31.0K $30.02/SF
− OpEx
−$13.9K −$13.51/SF
NOI
$17.0K $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%
$340,800
Cap Rate 7%
$243,429
Cap Rate 9%
$189,333
Alternative Uses
Best Use
Apartment 5plus
$243.4K
$213.0K – $284.0K
NOI $17,040 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$363.0K
$317.7K – $423.5K
NOI $25,412 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,753
Businesses Nearby
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Business Placement
Demographics for 20832, MD
25,969
Population
8,581
Households
3
Avg Household Size
43
Median Age
64%
College-Educated
96%
High-School Grad
9.6 sq mi
ZIP Area
2,705
Density / Sq Mi
$166,892
Median Household Income
$72,309
Median Earnings
$2,429
Median Rent
$601,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated interiors, assigned parking, and community recreation complement views across the lake.
Where is this residential income property located?
The property is located at 18148 WINDSOR HILL DRIVE Unit 202B Olney, MD.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Two bedrooms and one full bathroom in the upper‑level sleeping area; Private rear deck with views of the community lake; Wood‑burning fireplace in the living and dining area
