Updated Residential Income
New
For Sale
$235,000
19007 MILLS CHOICE ROAD Unit 3, Gaithersburg, MD 20886
An in-unit washer and dryer accompanies refreshed finishes and distinct living and dining areas.
Property Size1,121 SF
Days on Market6
Property Features for 19007 MILLS CHOICE ROAD Unit 3
General Information
Standard status
Active
Size
1,121 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,291
Amenities
washer/dryer in unit
Building Details
Building Size
1,121 SF
Year Built
1968
Buildings
1
Listing Agency:
RLAH @properties
Listed By:
Jack W Wang · License #640686
(240) 731-9919
Source:
Thehulsmangroup
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 11 at 11:29AM
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 RLAH @properties
Investment Insights
Based on property information with market context.
Built in 1968, this residential income property is a condominium unit with refreshed paint, flooring, fixtures, and bathrooms. Separate living and dining areas are complemented by a kitchen with ample cabinet and counter space, generously sized bedrooms, and an in-unit washer and dryer.
Shopping, dining, parks, walking trails, ponds, and recreation amenities are available in the surrounding Montgomery Village area. Midcounty Highway and I-270 provide connections to destinations across Montgomery County and beyond.
Shopping, dining, parks, walking trails, ponds, and recreation amenities are available in the surrounding Montgomery Village area. Midcounty Highway and I-270 provide connections to destinations across Montgomery County and beyond.
Key Highlights
- Condominium unit with refreshed paint, flooring, fixtures, and bathrooms
- In‑unit washer and dryer
- Separate living and dining areas; kitchen has ample cabinet and counter space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,509
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$370,180
$370.2K
Cap Rate 7%
$264,414
$264.4K
Cap Rate 9%
$205,656
$205.7K
Market Conditions
NOI Build-Up for 1,121 SF
Gross rent
$36.2K $32.28/SF
− Vacancy
−$2.5K −$2.26/SF
EGI
$33.7K $30.02/SF
− OpEx
−$15.1K −$13.51/SF
NOI
$18.5K $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%
$370,180
Cap Rate 7%
$264,414
Cap Rate 9%
$205,656
Alternative Uses
Best Use
Apartment 5plus
$264.4K
$231.4K – $308.5K
NOI $18,509 @ 7.0% cap · market cap 7.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$394.3K
$345.1K – $460.1K
NOI $27,604 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
899
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 - An in-unit washer and dryer accompanies refreshed finishes and distinct living and dining areas.
Where is this residential income property located?
The property is located at 19007 MILLS CHOICE ROAD Unit 3 Gaithersburg, MD.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Condominium unit with refreshed paint, flooring, fixtures, and bathrooms; In‑unit washer and dryer; Separate living and dining areas; kitchen has ample cabinet and counter space
