Top-Floor Residential Income
For Sale
$250,000
Pending
2307 GREENERY LANE Unit 203-2, Silver Spring, MD 20906
The residence features a balcony overlooking trees and access to a community pool.
Property Size1,267 SF
Days on Market85
Property Features for 2307 GREENERY LANE Unit 203-2
General Information
Standard status
Pending
Size
1,267 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,574
Amenities
pool
BBQ grill
balcony
Building Details
Building Size
1,267 SF
Year Built
1971
Listing Agency:
Blue Ribbon Realty
Listed By:
Judith Egbarin · License #627918
(301) 385-4741
Source:
Jackrealtygroup
Added: Aug 7
Changed: Oct 27
Last Checked: Oct 26 at 2:26PM
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 Blue Ribbon Realty
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Investment Insights
Based on property information with market context.
This top-floor residential unit offers 1,267 square feet and was built in 1971. Interior features include an open kitchen with an island and granite counters, updated bathrooms, new light fixtures, and floor-to-ceiling double-pane windows. A balcony faces trees. Utilities, along with HVAC replacement and maintenance, are included in the condo fees.
Residents have access to a community pool and BBQ grill. Glenmont Metro, CVS, grocery stores, and restaurants are about a five-minute walk away.
Residents have access to a community pool and BBQ grill. Glenmont Metro, CVS, grocery stores, and restaurants are about a five-minute walk away.
Key Highlights
- 1,267‑square‑foot residence built in 1971
- Utilities, HVAC replacement, and HVAC maintenance included in condo fees
- Open kitchen with island and granite countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,920
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$418,400
$418.4K
Cap Rate 7%
$298,857
$298.9K
Cap Rate 9%
$232,444
$232.4K
Market Conditions
NOI Build-Up for 1,267 SF
Gross rent
$40.9K $32.28/SF
− Vacancy
−$2.9K −$2.26/SF
EGI
$38.0K $30.02/SF
− OpEx
−$17.1K −$13.51/SF
NOI
$20.9K $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%
$418,400
Cap Rate 7%
$298,857
Cap Rate 9%
$232,444
Alternative Uses
Best Use
Apartment 5plus
$298.9K
$261.5K – $348.7K
NOI $20,920 @ 7.0% cap · market cap 8.37%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$445.7K
$390.0K – $520.0K
NOI $31,199 @ 7.0% cap · market cap 12.48%
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
441
Businesses Nearby
Explore this area
Business Placement
Demographics for 20906, MD
71,641
Population
27,423
Households
2.6
Avg Household Size
41
Median Age
42%
College-Educated
87%
High-School Grad
12.7 sq mi
ZIP Area
5,641
Density / Sq Mi
$92,964
Median Household Income
$46,172
Median Earnings
$1,945
Median Rent
$440,600
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - The residence features a balcony overlooking trees and access to a community pool.
Where is this residential income property located?
The property is located at 2307 GREENERY LANE Unit 203-2 Silver Spring, MD.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,267‑square‑foot residence built in 1971; Utilities, HVAC replacement, and HVAC maintenance included in condo fees; Open kitchen with island and granite countertops
