Residential Income Property
For Sale
$167,500
18430 BISHOPSTONE COURT Unit 305, Montgomery Village, MD 20886
Turnkey condo with an open layout, fireplace, bedroom balcony, and community pool and tennis amenities.
Property Size617 SF
Days on Market53
Property Features for 18430 BISHOPSTONE COURT Unit 305
General Information
Standard status
Active
Size
617 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$1,579
Building Details
Building Size
617 SF
Year Built
1984
Listing Agency:
Long & Foster Real Estate, Inc.
(240) 671-8126
Listed By:
Kandi Morris · License #664259
(240) 671-8126
Source:
Thehulsmangroup
Added: Jul 1
Changed: Aug 21
Last Checked: Aug 21 at 10:43AM
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.
Unit 305 is a 1984-built condominium residence with an open floor plan, fireplace, semi-private balcony adjoining the bedroom, and a kitchen equipped with ample cabinet and counter space. Large windows provide natural light, while exterior maintenance is handled by the condominium association. Community amenities include an outdoor pool and tennis court.
The property is in Montgomery Village near Montgomery Village Center, Gaithersburg Square, the Montgomery County Public Library, Lake Whetstone, Costco, Sam's Club, shopping, restaurants, schools, and public transportation. Regional access includes I-270, the ICC (MD-200), and Route 355. Downtown Crown, Rio Lakefront, Kentlands, and Seneca Creek State Park are also minutes away.
The property is in Montgomery Village near Montgomery Village Center, Gaithersburg Square, the Montgomery County Public Library, Lake Whetstone, Costco, Sam's Club, shopping, restaurants, schools, and public transportation. Regional access includes I-270, the ICC (MD-200), and Route 355. Downtown Crown, Rio Lakefront, Kentlands, and Seneca Creek State Park are also minutes away.
Key Highlights
- Unit 305 in a 1984‑built condominium
- Open floor plan with fireplace and semi‑private bedroom balcony
- Kitchen includes ample cabinet and counter space
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
$10,187
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
6.08%
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%
$203,740
$203.7K
Cap Rate 7%
$145,529
$145.5K
Cap Rate 9%
$113,189
$113.2K
Market Conditions
NOI Build-Up for 617 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
$19.9K $32.28/SF
− Vacancy
−$1.4K −$2.26/SF
EGI
$18.5K $30.02/SF
− OpEx
−$8.3K −$13.51/SF
NOI
$10.2K $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%
$203,740
Cap Rate 7%
$145,529
Cap Rate 9%
$113,189
Alternative Uses
Best Use
Apartment 5plus
$145.5K
$127.3K – $169.8K
NOI $10,187 @ 7.0% cap · market cap 6.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$217.0K
$189.9K – $253.2K
NOI $15,193 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,433
Businesses Nearby
Explore this area
Business Placement
Demographics for 20886, MD
35,649
Population
13,024
Households
2.7
Avg Household Size
36
Median Age
43%
College-Educated
88%
High-School Grad
4.1 sq mi
ZIP Area
8,695
Density / Sq Mi
$98,767
Median Household Income
$48,530
Median Earnings
$1,863
Median Rent
$366,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Turnkey condo with an open layout, fireplace, bedroom balcony, and community pool and tennis amenities.
Where is this residential income property located?
The property is located at 18430 BISHOPSTONE COURT Unit 305 Montgomery Village, MD.
What is the asking price?
The asking price for this property is $167,500.
What are key features of this property?
This property features: Unit 305 in a 1984‑built condominium; Open floor plan with fireplace and semi‑private bedroom balcony; Kitchen includes ample cabinet and counter space
