Building Details

Building Size 1,134 SF

Year Built 1973

Tenancy Single

Listing Agency: Douglas Realty

Listed By: Wilmer Bucarelo · License #647903 Show Phone

Source: Thehulsmangroup

Added: Oct 13 Changed: Oct 17 Last Checked: Oct 21 at 4:01AM

Report an Issue

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 Douglas Realty

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This residential condominium contains two bedrooms and two bathrooms and was built in 1973. The unit is currently occupied by a tenant under a month-to-month lease, offering a defined lease structure for the next owner.

Key Highlights

• Two bedrooms and two bathrooms
• Tenant‑occupied with a month‑to‑month lease
• Built in 1973

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,724

Cap Rate

8.32%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$374,480 $374.5K

Cap Rate 7%

$267,486 $267.5K

Cap Rate 9%

$208,044 $208.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,134 SF

Gross rent

$36.6K $32.28/SF

− Vacancy

−$2.6K −$2.26/SF

EGI

$34.0K $30.02/SF

− OpEx

−$15.3K −$13.51/SF

NOI

$18.7K $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%

$374,480

Cap Rate 7%

$267,486

Cap Rate 9%

$208,044

Alternative Uses

Best Use

Apartment 5plus

$267.5K

$234.1K – $312.1K (±1% cap)

NOI $18,724 @ 7.0% cap · market cap 8.32%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$398.9K

$349.1K – $465.4K (±1% cap)

NOI $27,924 @ 7.0% cap · market cap 12.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Lease Details

1

Residential units

100%

Occupancy

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,156

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

Similar For Sale Nearby

See more

Top-Floor Residential Income Property

18614 WALKERS CHOICE ROAD Unit: 5, Montgomery Village, MD 20886

$225,000

View details

Updated Residential Income Condo

18714 WALKERS CHOICE ROAD Unit: 18714, Montgomery Village, MD 20877

$265,000

View details

Three-Bedroom Garden Apartment

19110 MILLS CHOICE ROAD Unit: 19110, Montgomery Village, MD 20886

$239,000

View details

Top-Floor Residential Income Property

18415 BISHOPSTONE COURT Unit: 42, Montgomery Village, MD 20886

$159,900

View details

Renovated Condo with Den

19419 BRASSIE PLACE Unit: 304, Montgomery Village, MD 20886

$179,999

View details

Frequently Asked Questions

What type of property is this?

Residential income property - Tenant-occupied unit with a month-to-month lease and two bathrooms.

Where is this residential income property located?

The property is located at 18816 WALKERS CHOICE ROAD Unit 18816 Montgomery Village, MD.

What is the asking price?

The asking price for this property is $225,000.

What are key features of this property?

This property features: Two bedrooms and two bathrooms; Tenant‑occupied with a month‑to‑month lease; Built in 1973