Condominium Residence with
For Sale
$240,000
3310 N LEISURE WORLD BOULEVARD Unit 124, Silver Spring, MD 20906
An updated home in a 55+ community features an enclosed balcony and in-unit laundry.
Property Size1,195 SF
Price / SF$200.84
Days on Market71
Property Features for 3310 N LEISURE WORLD BOULEVARD Unit 124
General Information
Standard status
Active
Size
1,195 SF
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA/den
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,516
Amenities
enclosed balcony
in-unit washer/dryer
dedicated storage unit
golf
tennis
pickleball
indoor and outdoor pools
fitness facilities
clubs
social events
activities
Building Details
Building Size
1,195 SF
Year Built
1991
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Esther A Ogunsanya · License #0680849
(301) 525-9352
Source:
Signaturemoverealestate
Added: Aug 23
Changed: Oct 31
Last Checked: Oct 31 at 7:50AM
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 1,420-square-foot condominium was built in 1993 and offers two bedrooms, two full bathrooms, a den, and an enclosed balcony. Recent updates include LVP flooring, kitchen and bathroom improvements, and updated lighting. The unit also has an in-unit washer and dryer and a dedicated storage space identified as #119. Views from the balcony extend over treetops and the golf course.
The home is part of a 55+ active living community with golf, tennis, pickleball, indoor and outdoor pools, fitness facilities, clubs, social events, and activities. Shopping and restaurants are also nearby. The condominium fee covers basic cable TV, internet, water, sewer, snow removal, and trash service.
The home is part of a 55+ active living community with golf, tennis, pickleball, indoor and outdoor pools, fitness facilities, clubs, social events, and activities. Shopping and restaurants are also nearby. The condominium fee covers basic cable TV, internet, water, sewer, snow removal, and trash service.
Key Highlights
- 1,420‑square‑foot residence with two bedrooms, two full bathrooms, and a den
- Enclosed balcony with treetop and golf course views
- LVP flooring, kitchen, bathrooms, and lighting have been updated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,731
Cap Rate
8.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,620
$394.6K
Cap Rate 7%
$281,871
$281.9K
Cap Rate 9%
$219,233
$219.2K
Market Conditions
NOI Build-Up for 1,195 SF
Gross rent
$38.6K $32.28/SF
− Vacancy
−$2.7K −$2.26/SF
EGI
$35.9K $30.02/SF
− OpEx
−$16.1K −$13.51/SF
NOI
$19.7K $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%
$394,620
Cap Rate 7%
$281,871
Cap Rate 9%
$219,233
Alternative Uses
Best Use
Apartment 5plus
$281.9K
$246.6K – $328.9K
NOI $19,731 @ 7.0% cap · market cap 8.22%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$420.4K
$367.8K – $490.4K
NOI $29,426 @ 7.0% cap · market cap 12.26%
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
474
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 updated home in a 55+ community features an enclosed balcony and in-unit laundry.
Where is this residential income property located?
The property is located at 3310 N LEISURE WORLD BOULEVARD Unit 124 Silver Spring, MD.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 1,420‑square‑foot residence with two bedrooms, two full bathrooms, and a den; Enclosed balcony with treetop and golf course views; LVP flooring, kitchen, bathrooms, and lighting have been updated
