Two-Level Residential Income
For Sale
$359,900
2232 WASHINGTON AVENUE Unit 202, Silver Spring, MD 20910
A loft-level layout, renovated kitchen and bath, and in-unit laundry distinguish this residence.
Property Size889 SF
Price / SF$404.84
Days on Market58
Property Features for 2232 WASHINGTON AVENUE Unit 202
General Information
Standard status
Active
Size
889 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,610
Amenities
wood burning fireplace
private washer/dryer
pool
gazebo
barbeque
Building Details
Building Size
889 SF
Year Built
1948
Listing Agency:
Compass
Listed By:
Mark Goldberg · License #67318
(301) 351-7200
Source:
Exqrealestate
Added: Sep 1
Changed: Oct 27
Last Checked: Oct 26 at 3:38PM
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
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Investment Insights
Based on property information with market context.
This 889-square-foot, two-level residence has a loft overlooking the living and dining area, cathedral ceilings with skylights, and a wood-burning fireplace. The kitchen and bathroom have been renovated, and a private washer and dryer are included. Built in 1948, the home also features niche cabinetry in the entry hall. The loft can serve as an office, den, or guest room.
The property is in Rock Creek Gardens in Silver Spring. Community amenities include a pool, gazebo, and barbecue area. A neighborhood shopping center with restaurants, a grocery store, dry cleaners, and a sports club is less than a block away. Ride-on service is nearby, with downtown Silver Spring, Bethesda, and Rock Creek Park also close. Residents receive a parking tag for use throughout the community; designated and on-street guest parking are available.
The property is in Rock Creek Gardens in Silver Spring. Community amenities include a pool, gazebo, and barbecue area. A neighborhood shopping center with restaurants, a grocery store, dry cleaners, and a sports club is less than a block away. Ride-on service is nearby, with downtown Silver Spring, Bethesda, and Rock Creek Park also close. Residents receive a parking tag for use throughout the community; designated and on-street guest parking are available.
Key Highlights
- 889‑square‑foot residence with a two‑level layout and loft
- Renovated kitchen and bathroom
- Cathedral ceilings, skylights, and a wood‑burning fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,678
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$293,560
$293.6K
Cap Rate 7%
$209,686
$209.7K
Cap Rate 9%
$163,089
$163.1K
Market Conditions
NOI Build-Up for 889 SF
Gross rent
$28.7K $32.28/SF
− Vacancy
−$2.0K −$2.26/SF
EGI
$26.7K $30.02/SF
− OpEx
−$12.0K −$13.51/SF
NOI
$14.7K $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%
$293,560
Cap Rate 7%
$209,686
Cap Rate 9%
$163,089
Alternative Uses
Best Use
Apartment 5plus
$209.7K
$183.5K – $244.6K
NOI $14,678 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$312.7K
$273.6K – $364.9K
NOI $21,891 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
Explore this area
Business Placement
Demographics for 20910, MD
45,610
Population
23,209
Households
2
Avg Household Size
36
Median Age
74%
College-Educated
95%
High-School Grad
4.6 sq mi
ZIP Area
9,915
Density / Sq Mi
$107,994
Median Household Income
$70,022
Median Earnings
$1,992
Median Rent
$690,900
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - A loft-level layout, renovated kitchen and bath, and in-unit laundry distinguish this residence.
Where is this residential income property located?
The property is located at 2232 WASHINGTON AVENUE Unit 202 Silver Spring, MD.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: 889‑square‑foot residence with a two‑level layout and loft; Renovated kitchen and bathroom; Cathedral ceilings, skylights, and a wood‑burning fireplace
