Two-Bedroom Apartment
For Sale
$200,000
18503 BOYSENBERRY DRIVE Unit 121, Gaithersburg, MD 20879
Garden-style apartment with updated kitchen finishes, in-unit laundry, assigned parking, and access to a community pool.
Property Size817 SF
Price / SF$244.80
Days on Market69
Property Features for 18503 BOYSENBERRY DRIVE Unit 121
General Information
Standard status
Active
Size
817 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,481
Amenities
pool
in-unit laundry
Building Details
Building Size
817 SF
Year Built
1988
Construction
garden-style
Listing Agency:
Long & Foster Real Estate, Inc.
(301) 602-1146
Listed By:
Andrew John Ascienzo · License #5001752
(301) 602-1146
Source:
Thehulsmangroup
Added: Jun 14
Changed: Aug 15
Last Checked: Aug 20 at 12:33PM
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.
This 817-square-foot apartment unit in the Breckenridge community includes two bedrooms and one bathroom. The interior features a kitchen with newly finished quartz countertops and freshly painted cabinets, along with an open arrangement that connects the living areas. A washer and dryer are included inside the unit.
The residence is part of a garden-style building constructed in 1988 and includes one assigned parking space. Residents also have access to a community pool. The property is located on Boysenberry Drive in Gaithersburg, Maryland, within the 20879 ZIP code.
The residence is part of a garden-style building constructed in 1988 and includes one assigned parking space. Residents also have access to a community pool. The property is located on Boysenberry Drive in Gaithersburg, Maryland, within the 20879 ZIP code.
Key Highlights
- 817‑square‑foot apartment unit with 2 bedrooms and 1 bathroom
- Kitchen upgraded with newly finished quartz countertops and freshly painted cabinets
- In‑unit washer and dryer included
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
$13,490
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
6.74%
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%
$269,800
$269.8K
Cap Rate 7%
$192,714
$192.7K
Cap Rate 9%
$149,889
$149.9K
Market Conditions
NOI Build-Up for 817 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
$26.4K $32.28/SF
− Vacancy
−$1.8K −$2.26/SF
EGI
$24.5K $30.02/SF
− OpEx
−$11.0K −$13.51/SF
NOI
$13.5K $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%
$269,800
Cap Rate 7%
$192,714
Cap Rate 9%
$149,889
Alternative Uses
Best Use
Apartment 5plus
$192.7K
$168.6K – $224.8K
NOI $13,490 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$287.4K
$251.5K – $335.3K
NOI $20,118 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,476
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 - Garden-style apartment with updated kitchen finishes, in-unit laundry, assigned parking, and access to a community pool.
Where is this residential income property located?
The property is located at 18503 BOYSENBERRY DRIVE Unit 121 Gaithersburg, MD.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 817‑square‑foot apartment unit with 2 bedrooms and 1 bathroom; Kitchen upgraded with newly finished quartz countertops and freshly painted cabinets; In‑unit washer and dryer included
