Top-Floor 2-Bedroom Income
For Sale
$245,000
18328 STREAMSIDE DRIVE Unit 304, Gaithersburg, MD 20879
Updated residence with an open kitchen, private balcony, in-unit laundry, and access to extensive community amenities.
Property Size1,021 SF
Days on Market92
Property Features for 18328 STREAMSIDE DRIVE Unit 304
General Information
Standard status
Active
Size
1,021 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,287
Amenities
pool
tennis courts
mature trees
green space
tot lot
washer & dryer
private balcony
Building Details
Building Size
1,021 SF
Year Built
1986
Listing Agency:
Redfin Corp
(301) 410-5889
Listed By:
Lisa Greaves · License #642164
(301) 410-5889
Source:
Thehulsmangroup
Added: May 14
Changed: Aug 13
Last Checked: Aug 13 at 2:36AM
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 Redfin Corp
Investment Insights
Based on property information with market context.
Built in 1986, this two-bedroom residential income property occupies the top floor and includes a private balcony with views from the unit. The kitchen has an open layout, 42-inch cabinets, stainless steel appliances, and granite countertops. Interior improvements include fresh paint, newer flooring, and a remodeled primary bathroom with a custom stand-up shower, tile finishes, and wood accents. A washer and dryer are included within the residence.
Community amenities include a large pool, tennis courts, mature trees, green space, and a tot lot. The property is located near I-270, the ICC, and local shopping, with additional pools and parks available throughout Montgomery Village.
Community amenities include a large pool, tennis courts, mature trees, green space, and a tot lot. The property is located near I-270, the ICC, and local shopping, with additional pools and parks available throughout Montgomery Village.
Key Highlights
- Top‑floor 2‑bedroom residence with no unit above
- Open kitchen with 42‑inch cabinets, stainless steel appliances, and granite countertops
- Remodeled primary bathroom with custom stand‑up shower and tile finishes
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,858
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$337,160
$337.2K
Cap Rate 7%
$240,829
$240.8K
Cap Rate 9%
$187,311
$187.3K
Market Conditions
NOI Build-Up for 1,021 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.0K $32.28/SF
− Vacancy
−$2.3K −$2.26/SF
EGI
$30.7K $30.02/SF
− OpEx
−$13.8K −$13.51/SF
NOI
$16.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$337,160
Cap Rate 7%
$240,829
Cap Rate 9%
$187,311
Alternative Uses
Best Use
Apartment 5plus
$240.8K
$210.7K – $281.0K
NOI $16,858 @ 7.0% cap · market cap 6.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$359.2K
$314.3K – $419.0K
NOI $25,141 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
559
Businesses Nearby
Explore this area
Business Placement
Demographics for 20879, MD
26,176
Population
9,008
Households
2.9
Avg Household Size
37
Median Age
42%
College-Educated
87%
High-School Grad
8.6 sq mi
ZIP Area
3,044
Density / Sq Mi
$105,109
Median Household Income
$49,269
Median Earnings
$1,895
Median Rent
$433,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated residence with an open kitchen, private balcony, in-unit laundry, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 18328 STREAMSIDE DRIVE Unit 304 Gaithersburg, MD.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Top‑floor 2‑bedroom residence with no unit above; Open kitchen with 42‑inch cabinets, stainless steel appliances, and granite countertops; Remodeled primary bathroom with custom stand‑up shower and tile finishes
