Penthouse Residential Income
For Sale
$289,000
3100 N LEISURE WORLD BOULEVARD Unit 1015, Silver Spring, MD 20906
An open-plan residence in a gated 55-and-older community includes in-unit laundry and separate storage.
Property Size1,242 SF
Price / SF$232.69
Days on Market24
Property Features for 3100 N LEISURE WORLD BOULEVARD Unit 1015
General Information
Standard status
Active
Size
1,242 SF
Elevators
Yes
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,334
Amenities
private storage room
storage cage
washer and dryer
Building Details
Building Size
1,242 SF
Year Built
2004
Listing Agency:
Samson Properties
Listed By:
Eve Rados R Marinik · License #305790
(301) 221-8867
Source:
Signaturemoverealestate
Added: Oct 9
Changed: Oct 31
Last Checked: Oct 31 at 2:17PM
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 Samson Properties
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Investment Insights
Based on property information with market context.
This penthouse residence offers 1,242 square feet of living space in a 2004 building. Its open layout features granite countertops, stainless steel appliances, laminate flooring, and new bedroom carpet. Recent updates also include fresh paint in some areas and new HVAC. A washer and dryer are located in the unit, with a private storage room and a separate storage cage providing additional space.
The property is part of Leisure World of Maryland, a gated community for residents aged 55 and older. The unit is near the elevator, and parking is available in front of the building.
The property is part of Leisure World of Maryland, a gated community for residents aged 55 and older. The unit is near the elevator, and parking is available in front of the building.
Key Highlights
- 1,242‑square‑foot penthouse in a 2004 building
- Located in a gated 55‑and‑older community
- New HVAC; fresh paint in some areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,507
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$410,140
$410.1K
Cap Rate 7%
$292,957
$293.0K
Cap Rate 9%
$227,856
$227.9K
Market Conditions
NOI Build-Up for 1,242 SF
Gross rent
$40.1K $32.28/SF
− Vacancy
−$2.8K −$2.26/SF
EGI
$37.3K $30.02/SF
− OpEx
−$16.8K −$13.51/SF
NOI
$20.5K $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%
$410,140
Cap Rate 7%
$292,957
Cap Rate 9%
$227,856
Alternative Uses
Best Use
Apartment 5plus
$293.0K
$256.3K – $341.8K
NOI $20,507 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$436.9K
$382.3K – $509.7K
NOI $30,583 @ 7.0% cap · market cap 10.58%
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
419
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 - An open-plan residence in a gated 55-and-older community includes in-unit laundry and separate storage.
Where is this residential income property located?
The property is located at 3100 N LEISURE WORLD BOULEVARD Unit 1015 Silver Spring, MD.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 1,242‑square‑foot penthouse in a 2004 building; Located in a gated 55‑and‑older community; New HVAC; fresh paint in some areas
