Residential Unit with Four-Season
For Sale
$310,000
3005 S LEISURE WORLD BOULEVARD S Unit 304, Silver Spring, MD 20906
A 2-bedroom residence includes a den, two full bathrooms, and access to community dining and recreation.
Property Size1,506 SF
Price / SF$205.84
Days on Market60
Property Features for 3005 S LEISURE WORLD BOULEVARD S Unit 304
General Information
Standard status
Active
Size
1,506 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,521
Amenities
on-site restaurants
sports facilities
social clubs
24-hour gated community
Building Details
Building Size
1,506 SF
Year Built
1999
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Barbara S Small · License #49305
(301) 325-7508
Source:
Signaturemoverealestate
Added: Sep 3
Changed: Oct 31
Last Checked: Oct 31 at 2:27PM
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 Long & Foster Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This 1,506-square-foot residence in a 1999 building has two bedrooms, two full bathrooms, and a den. The kitchen has white shaker cabinetry, white appliances, and ceramic tile flooring. Vinyl plank flooring extends through the dining room, while the 32-foot four-season porch has ceramic floors and views of the city skyline and surrounding woodlands. A sliding door connects the primary bedroom to the porch; the suite also includes a walk-in closet and private bath. The second bedroom has built-ins and can also serve as a study or office.
The home is in a 24-hour gated community in Silver Spring. On-site amenities include restaurants and sports facilities, alongside social clubs and programming such as classes, lectures, and group outings.
The home is in a 24-hour gated community in Silver Spring. On-site amenities include restaurants and sports facilities, alongside social clubs and programming such as classes, lectures, and group outings.
Key Highlights
- 1,506 square feet with two bedrooms, two full bathrooms, and a den
- 32‑foot four‑season porch with city skyline and woodland views
- Kitchen with white shaker cabinetry, white appliances, and ceramic tile flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,866
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$497,320
$497.3K
Cap Rate 7%
$355,229
$355.2K
Cap Rate 9%
$276,289
$276.3K
Market Conditions
NOI Build-Up for 1,506 SF
Gross rent
$48.6K $32.28/SF
− Vacancy
−$3.4K −$2.26/SF
EGI
$45.2K $30.02/SF
− OpEx
−$20.3K −$13.51/SF
NOI
$24.9K $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%
$497,320
Cap Rate 7%
$355,229
Cap Rate 9%
$276,289
Alternative Uses
Best Use
Apartment 5plus
$355.2K
$310.8K – $414.4K
NOI $24,866 @ 7.0% cap · market cap 8.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$529.8K
$463.6K – $618.1K
NOI $37,084 @ 7.0% cap · market cap 11.96%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
251
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 2-bedroom residence includes a den, two full bathrooms, and access to community dining and recreation.
Where is this residential income property located?
The property is located at 3005 S LEISURE WORLD BOULEVARD S Unit 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: 1,506 square feet with two bedrooms, two full bathrooms, and a den; 32‑foot four‑season porch with city skyline and woodland views; Kitchen with white shaker cabinetry, white appliances, and ceramic tile flooring
