Residential Property with Four-Season
New
For Sale
$310,000
3005 S LEISURE WORLD BLVD S #304, Silver Spring, MD 20906
SILVER SPRING, MD
Property Size1,500 SF
Price / SF$206.67
Days on Market2
Property Features for 3005 S LEISURE WORLD BLVD S #304
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2
Subdivision
TURNBERRY COURTS AT LEIS
Elementary school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
Middle school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
High school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
Standard status
Active
Amenities
on-site restaurants
sports facilities
social clubs
24-hour gated community
Building Details
Year built
1999
Listing Agency:
One Montgomery
(301) 424-0900
Listed By:
Barbara Small
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 6:06PM
MLS# MDMC2262050
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2-bedroom, 2-bathroom residence includes a den and a 32-foot four-season porch with ceramic flooring. The kitchen has white cabinetry, white appliances, and ceramic tile floors; a new stove was installed in June 2026. The HVAC system dates to 2022. New vinyl plank flooring finishes the dining room, while the primary bedroom offers a walk-in closet and direct porch access. The second bedroom has built-ins, and the den provides additional interior space.
The home is in a 24-hour gated community with on-site restaurants, sports facilities, social clubs, classes, coffee gatherings, happy hours, museum trips, and lectures. The building is non-smoking and was built in 1999.
The home is in a 24-hour gated community with on-site restaurants, sports facilities, social clubs, classes, coffee gatherings, happy hours, museum trips, and lectures. The building is non-smoking and was built in 1999.
Key Highlights
- Two bedrooms, two full bathrooms, and a den
- 32‑foot four‑season porch with ceramic flooring
- Kitchen with white cabinetry and appliances; new stove installed in June 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,767
Cap Rate
7.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$495,340
$495.3K
Cap Rate 7%
$353,814
$353.8K
Cap Rate 9%
$275,189
$275.2K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$48.4K $32.28/SF
− Vacancy
−$3.4K −$2.26/SF
EGI
$45.0K $30.02/SF
− OpEx
−$20.3K −$13.51/SF
NOI
$24.8K $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%
$495,340
Cap Rate 7%
$353,814
Cap Rate 9%
$275,189
Alternative Uses
Best Use
Apartment 5plus
$353.8K
$309.6K – $412.8K
NOI $24,767 @ 7.0% cap · market cap 7.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$527.7K
$461.7K – $615.6K
NOI $36,937 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - A two-bedroom residence includes a den, two full baths, and a private enclosed porch.
Where is this residential income property located?
The property is located at 3005 S LEISURE WORLD BLVD S #304 Silver Spring, MD.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Two bedrooms, two full bathrooms, and a den; 32‑foot four‑season porch with ceramic flooring; Kitchen with white cabinetry and appliances; new stove installed in June 2026
