Remodeled Top-Floor Condo Income
For Sale
$223,000
19425 BRASSIE PL Unit 303, Montgomery Village, MD 20886
Updated condominium with private balcony, community amenities, and utilities included in the condo fee.
Property Size1,059 SF
Days on Market96
Property Features for 19425 BRASSIE PL Unit 303
General Information
Standard status
Active
Size
1,059 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$1,924
Building Details
Building Size
1,059 SF
Year Built
1972
Listing Agency:
Ten Thousand Realty
(240) 938-2456
Listed By:
LILI LIU · License #37307
(240) 938-2456
Source:
Thehulsmangroup
Added: May 18
Changed: Aug 17
Last Checked: Aug 20 at 12:50PM
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 Ten Thousand Realty
Investment Insights
Based on property information with market context.
This top-floor condominium at 19425 Brassie Pl, Unit 303, in Montgomery Village includes two bedrooms, two bathrooms, an open layout, substantial storage, and a private balcony. Renovation work completed in 2025 includes new windows, refreshed kitchen cabinetry, granite countertops, a new refrigerator, remodeled bathrooms, fresh paint, and LVP flooring throughout.
The community provides ample parking, a swimming pool, and a playground. The property is minutes from shopping, dining, parks, Lake Whetstone, and major commuter routes. All utilities are included in the condo fee, adding a defined operating feature for the residential income property.
The community provides ample parking, a swimming pool, and a playground. The property is minutes from shopping, dining, parks, Lake Whetstone, and major commuter routes. All utilities are included in the condo fee, adding a defined operating feature for the residential income property.
Key Highlights
- Top‑floor condominium with 2 bedrooms and 2 bathrooms
- Renovated in 2025 with updated kitchen and two remodeled bathrooms
- New windows, fresh paint, and LVP flooring throughout
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
$17,485
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
7.84%
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%
$349,700
$349.7K
Cap Rate 7%
$249,786
$249.8K
Cap Rate 9%
$194,278
$194.3K
Market Conditions
NOI Build-Up for 1,059 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
$34.2K $32.28/SF
− Vacancy
−$2.4K −$2.26/SF
EGI
$31.8K $30.02/SF
− OpEx
−$14.3K −$13.51/SF
NOI
$17.5K $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%
$349,700
Cap Rate 7%
$249,786
Cap Rate 9%
$194,278
Alternative Uses
Best Use
Apartment 5plus
$249.8K
$218.6K – $291.4K
NOI $17,485 @ 7.0% cap · market cap 7.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$372.5K
$326.0K – $434.6K
NOI $26,077 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
673
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 - Updated condominium with private balcony, community amenities, and utilities included in the condo fee.
Where is this residential income property located?
The property is located at 19425 BRASSIE PL Unit 303 Montgomery Village, MD.
What is the asking price?
The asking price for this property is $223,000.
What are key features of this property?
This property features: Top‑floor condominium with 2 bedrooms and 2 bathrooms; Renovated in 2025 with updated kitchen and two remodeled bathrooms; New windows, fresh paint, and LVP flooring throughout
