Two-Bedroom Residential Income
For Sale
$218,000
18535 BOYSENBERRY DRIVE Unit 220, Gaithersburg, MD 20879
Condo offers an open living area, private balcony, in-unit laundry, and access to a community pool.
Property Size817 SF
Days on Market70
Property Features for 18535 BOYSENBERRY DRIVE Unit 220
General Information
Standard status
Active
Size
817 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,500
Amenities
fireplace
private balcony
in-unit laundry
pool
Building Details
Building Size
817 SF
Year Built
1988
Listing Agency:
Metropolitan Fine Properties, Inc.
Listed By:
Ali E Varkiani · License #590142
(202) 817-1700
Source:
Thehulsmangroup
Added: Jul 29
Changed: Oct 3
Last Checked: Oct 6 at 12:02AM
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 Metropolitan Fine Properties, Inc.
Investment Insights
Based on property information with market context.
Unit 220 at 18535 Boysenberry Drive is a 1988-built condominium with two bedrooms and two bathrooms. The interior includes an open living and entertaining area, a fireplace, and a kitchen with updated finishes. In-unit laundry adds everyday convenience, while the private balcony provides outdoor space connected to the residence.
Residents have access to unassigned parking and a community swimming pool. The pet-friendly community is positioned near parks, major commuter routes, and the shopping and dining options of Rio and Downtown Crown in Gaithersburg, Maryland. The property combines a residential layout with features that support comfortable daily living and convenient access to nearby amenities.
Residents have access to unassigned parking and a community swimming pool. The pet-friendly community is positioned near parks, major commuter routes, and the shopping and dining options of Rio and Downtown Crown in Gaithersburg, Maryland. The property combines a residential layout with features that support comfortable daily living and convenient access to nearby amenities.
Key Highlights
- Two‑bedroom, two‑bathroom condominium at 18535 Boysenberry Drive Unit 220
- 1988‑built property with an open living area and fireplace
- Kitchen features updated finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,490
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
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
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 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 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$287.4K
$251.5K – $335.3K
NOI $20,118 @ 7.0% cap · market cap 9.23%
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
1,433
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Condo offers an open living area, private balcony, in-unit laundry, and access to a community pool.
Where is this residential income property located?
The property is located at 18535 BOYSENBERRY DRIVE Unit 220 Gaithersburg, MD.
What is the asking price?
The asking price for this property is $218,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom condominium at 18535 Boysenberry Drive Unit 220; 1988‑built property with an open living area and fireplace; Kitchen features updated finishes
