Two-Bedroom Residential
For Sale
$299,000
Pending
2244 WASHINGTON AVENUE Unit 202, Silver Spring, MD 20910
The association covers gas, water, sewer, and lawn maintenance, with laundry inside the unit.
Property Size843 SF
Days on Market51
Property Features for 2244 WASHINGTON AVENUE Unit 202
General Information
Standard status
Pending
Size
843 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,487
Amenities
in-unit laundry
community pool
Building Details
Building Size
843 SF
Year Built
1948
Listing Agency:
Compass
Listed By:
Maureen C Weaver · License #644772
(301) 357-0272
Source:
Jackrealtygroup
Added: Sep 11
Changed: Oct 30
Last Checked: Oct 30 at 12:25PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 843-square-foot condominium has two bedrooms and one bathroom. Built in 1948, the unit is one flight above ground level and includes in-unit laundry and a parking space.
The community pool is across from the unit, and parks are located in the surrounding area. The association handles gas, water, sewer, and lawn maintenance.
The community pool is across from the unit, and parks are located in the surrounding area. The association handles gas, water, sewer, and lawn maintenance.
Key Highlights
- 843‑square‑foot condominium with 2 bedrooms and 1 bathroom
- Built in 1948
- In‑unit laundry and a parking space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,919
Cap Rate
4.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$278,380
$278.4K
Cap Rate 7%
$198,843
$198.8K
Cap Rate 9%
$154,656
$154.7K
Market Conditions
NOI Build-Up for 843 SF
Gross rent
$27.2K $32.28/SF
− Vacancy
−$1.9K −$2.26/SF
EGI
$25.3K $30.02/SF
− OpEx
−$11.4K −$13.51/SF
NOI
$13.9K $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%
$278,380
Cap Rate 7%
$198,843
Cap Rate 9%
$154,656
Alternative Uses
Best Use
Apartment 5plus
$198.8K
$174.0K – $232.0K
NOI $13,919 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$296.5K
$259.5K – $346.0K
NOI $20,758 @ 7.0% cap · market cap 6.94%
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
366
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 - The association covers gas, water, sewer, and lawn maintenance, with laundry inside the unit.
Where is this residential income property located?
The property is located at 2244 WASHINGTON AVENUE Unit 202 Silver Spring, MD.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 843‑square‑foot condominium with 2 bedrooms and 1 bathroom; Built in 1948; In‑unit laundry and a parking space
