Corner-Unit Residential Income
For Sale
$699,000
210 DECOVERLY DRIVE Unit 310, Gaithersburg, MD 20878
Bright condo residence with an open layout, upgraded primary suite, and access to community recreation amenities.
Property Size1,457 SF
Days on Market8
Property Features for 210 DECOVERLY DRIVE Unit 310
General Information
Standard status
Active
Size
1,457 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$8,475
Amenities
in-unit laundry
pool
tennis courts
community center
Building Details
Building Size
1,457 SF
Year Built
2019
Listing Agency:
Compass
Listed By:
Jon David Solovey · License #648450
(301) 873-8004
Source:
Barnesrealestatecompany
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 14 at 10:26AM
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 Compass
Investment Insights
Based on property information with market context.
Built in 2019, this corner-unit condominium offers 2 bedrooms and 2 full bathrooms within an open-concept living area. The kitchen includes a large island, gas cooktop, wall oven, and substantial storage. A primary suite adds an upgraded walk-in closet and a spa-style bathroom with a walk-in shower. In-unit laundry and an assigned garage parking space add everyday convenience.
Residents have access to a community pool, tennis courts, and community center, with those amenities included in the monthly fee. The pet-friendly community is within walking distance of downtown Crown restaurants and shopping.
Residents have access to a community pool, tennis courts, and community center, with those amenities included in the monthly fee. The pet-friendly community is within walking distance of downtown Crown restaurants and shopping.
Key Highlights
- Corner unit with 2 bedrooms and 2 full bathrooms
- 2019 construction with an open‑concept living area
- Kitchen includes a large island, gas cooktop, wall oven, and ample storage
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
$24,057
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
3.44%
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%
$481,140
$481.1K
Cap Rate 7%
$343,671
$343.7K
Cap Rate 9%
$267,300
$267.3K
Market Conditions
NOI Build-Up for 1,457 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
$47.0K $32.28/SF
− Vacancy
−$3.3K −$2.26/SF
EGI
$43.7K $30.02/SF
− OpEx
−$19.7K −$13.51/SF
NOI
$24.1K $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%
$481,140
Cap Rate 7%
$343,671
Cap Rate 9%
$267,300
Alternative Uses
Best Use
Apartment 5plus
$343.7K
$300.7K – $401.0K
NOI $24,057 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$512.5K
$448.5K – $598.0K
NOI $35,878 @ 7.0% cap · market cap 5.13%
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
1,766
Businesses Nearby
Explore this area
Business Placement
Demographics for 20878, MD
65,990
Population
25,297
Households
2.6
Avg Household Size
40
Median Age
70%
College-Educated
96%
High-School Grad
20.4 sq mi
ZIP Area
3,235
Density / Sq Mi
$142,062
Median Household Income
$76,026
Median Earnings
$2,188
Median Rent
$675,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Bright condo residence with an open layout, upgraded primary suite, and access to community recreation amenities.
Where is this residential income property located?
The property is located at 210 DECOVERLY DRIVE Unit 310 Gaithersburg, MD.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Corner unit with 2 bedrooms and 2 full bathrooms; 2019 construction with an open‑concept living area; Kitchen includes a large island, gas cooktop, wall oven, and ample storage
