Residential Income Property with
For Sale
$408,000
3100 N LEISURE WORLD BOULEVARD Unit 109, Silver Spring, MD 20906
The 2-bedroom, 2-bath residence includes a separate den and a sunroom with built-in seating.
Property Size1,520 SF
Price / SF$268.42
Days on Market70
Property Features for 3100 N LEISURE WORLD BOULEVARD Unit 109
General Information
Standard status
Active
Size
1,520 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA + den
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,687
Amenities
fireplace
sunroom
updated kitchen
stainless steel appliances
breakfast area
custom built-in cabinetry
custom built-in bench seating
bar area
walk-in closet
walk-in shower
bonus room with laundry area, extra refrigerator, and sink
Building Details
Building Size
1,520 SF
Year Built
2004
Listing Agency:
Gallery Collective
Listed By:
Thomas Mathis
(301) 245-2659
Source:
Gallerycollectivere
Added: Aug 20
Changed: Oct 27
Last Checked: Oct 27 at 4:36AM
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 Gallery Collective
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Investment Insights
Based on property information with market context.
This 1,520-square-foot residence in the Overlook building has 2 bedrooms, 2 bathrooms, a den, and a sunroom. Built in 2004, it has undergone extensive renovation, including new luxury vinyl plank flooring and an updated kitchen with stainless steel appliances. The living and dining areas include built-in cabinetry and a fireplace, while the sunroom adds bench seating and a bar area. The primary suite features built-in storage, a walk-in closet, and an updated bathroom with a walk-in shower. A second full bathroom serves the other bedroom, and a bonus room contains a laundry area, sink, and extra refrigerator.
The property is in Leisure World, a 55+ community, and includes garage parking space #141 near the garage entrance.
The property is in Leisure World, a 55+ community, and includes garage parking space #141 near the garage entrance.
Key Highlights
- 1,520‑square‑foot residence with 2 bedrooms, 2 bathrooms, and a den
- Extensively renovated, including new luxury vinyl plank flooring and an updated kitchen
- Sunroom features built‑in bench seating and a bar area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,097
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$501,940
$501.9K
Cap Rate 7%
$358,529
$358.5K
Cap Rate 9%
$278,856
$278.9K
Market Conditions
NOI Build-Up for 1,520 SF
Gross rent
$49.1K $32.28/SF
− Vacancy
−$3.4K −$2.26/SF
EGI
$45.6K $30.02/SF
− OpEx
−$20.5K −$13.51/SF
NOI
$25.1K $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%
$501,940
Cap Rate 7%
$358,529
Cap Rate 9%
$278,856
Alternative Uses
Best Use
Apartment 5plus
$358.5K
$313.7K – $418.3K
NOI $25,097 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$534.7K
$467.9K – $623.8K
NOI $37,429 @ 7.0% cap · market cap 9.17%
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 - The 2-bedroom, 2-bath residence includes a separate den and a sunroom with built-in seating.
Where is this residential income property located?
The property is located at 3100 N LEISURE WORLD BOULEVARD Unit 109 Silver Spring, MD.
What is the asking price?
The asking price for this property is $408,000.
What are key features of this property?
This property features: 1,520‑square‑foot residence with 2 bedrooms, 2 bathrooms, and a den; Extensively renovated, including new luxury vinyl plank flooring and an updated kitchen; Sunroom features built‑in bench seating and a bar area
