Upper-Level Residential Income
New
For Sale
$209,000
19916 APPLEDOWRE CIRCLE #136, Germantown, MD 20876
Condominium offers a private deck, wood-burning fireplace, reserved parking, and access to a community pool.
Property Size1,060 SF
Price / SF$197.17
Days on Market5
Property Features for 19916 APPLEDOWRE CIRCLE #136
General Information
Standard status
Active
Size
1,060 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
pool
Building Details
Year Built
1983
Listing Agency:
Douglas Realty
(240) 705-5055
Listed By:
ADELINA GILMANOVA · License #5002723
(240) 705-5055
Source:
Cummingsrealtors
Added: Aug 9
Changed: Aug 13
Last Checked: Aug 13 at 4:36AM
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
Investment Insights
Based on property information with market context.
This 1,060-square-foot condominium is located on the top level of a residential income property built in 1983. The interior includes a living room with a soaring cathedral ceiling and wood-burning fireplace, along with a kitchen that incorporates a breakfast area. A large walk-in closet and attic access provide substantial storage, while the private deck adds outdoor space.
The property is at 19916 Appledowre Circle #136 in Germantown, Maryland, with convenient proximity to 270, shops, restaurants, and parks. Reserved parking and access to a pool are included features.
The property is at 19916 Appledowre Circle #136 in Germantown, Maryland, with convenient proximity to 270, shops, restaurants, and parks. Reserved parking and access to a pool are included features.
Key Highlights
- 1,060‑square‑foot top‑level condominium
- Living room with soaring cathedral ceiling and wood‑burning fireplace
- Kitchen includes a breakfast area
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
$17,502
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
8.37%
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%
$350,040
$350.0K
Cap Rate 7%
$250,029
$250.0K
Cap Rate 9%
$194,467
$194.5K
Market Conditions
NOI Build-Up for 1,060 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%
$350,040
Cap Rate 7%
$250,029
Cap Rate 9%
$194,467
Alternative Uses
Best Use
Apartment 5plus
$250.0K
$218.8K – $291.7K
NOI $17,502 @ 7.0% cap · market cap 8.37%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$372.9K
$326.3K – $435.0K
NOI $26,102 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
670
Businesses Nearby
Explore this area
Business Placement
Demographics for 20876, MD
26,034
Population
9,079
Households
2.9
Avg Household Size
37
Median Age
52%
College-Educated
88%
High-School Grad
10.9 sq mi
ZIP Area
2,388
Density / Sq Mi
$113,329
Median Household Income
$59,163
Median Earnings
$2,081
Median Rent
$456,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium offers a private deck, wood-burning fireplace, reserved parking, and access to a community pool.
Where is this residential income property located?
The property is located at 19916 APPLEDOWRE CIRCLE #136 Germantown, MD.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: 1,060‑square‑foot top‑level condominium; Living room with soaring cathedral ceiling and wood‑burning fireplace; Kitchen includes a breakfast area
