Residential Income Property with Updated
For Sale
$169,000
3355 UNIVERSITY BLVD W #206, Kensington, MD 20895
KENSINGTON, MD
Property Size863 SF
Price / SF$195.83
Days on Market167
Property Features for 3355 UNIVERSITY BLVD W #206
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 2, Bedroom 1
Subdivision
KENMANOR
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
updated kitchen
Building Details
Year built
1964
Listing Agency:
One Bethesda
(240) 497-1700
Listed By:
Nelda L Harris
Added: Mar 19
Changed: Sep 1
Last Checked: Sep 1 at 8:06PM
MLS# MDMC2221280
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.
Investment Insights
Based on property information with market context.
This second-floor residential income property offers 863 square feet with two bedrooms, one bathroom, and a layout designed around comfortable daily living. Built in 1964, the condominium includes an updated kitchen with stainless steel appliances, abundant natural light, and one dedicated parking space. The property is situated within a 30-unit building.
Located at 3355 University Blvd W in Kensington, the condo is approximately one mile from Red Line Metro service. Shopping, dining, and a local shopping mall are nearby, adding practical convenience for residents and supporting the property's appeal as a residential holding.
Located at 3355 University Blvd W in Kensington, the condo is approximately one mile from Red Line Metro service. Shopping, dining, and a local shopping mall are nearby, adding practical convenience for residents and supporting the property's appeal as a residential holding.
Key Highlights
- 863‑square‑foot condominium with 2 bedrooms and 1 bathroom
- Updated kitchen equipped with stainless steel appliances
- One dedicated parking space included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,249
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$284,980
$285.0K
Cap Rate 7%
$203,557
$203.6K
Cap Rate 9%
$158,322
$158.3K
Market Conditions
NOI Build-Up for 863 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.9K $32.28/SF
− Vacancy
−$2.0K −$2.26/SF
EGI
$25.9K $30.02/SF
− OpEx
−$11.7K −$13.51/SF
NOI
$14.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$284,980
Cap Rate 7%
$203,557
Cap Rate 9%
$158,322
Alternative Uses
Best Use
Apartment 5plus
$203.6K
$178.1K – $237.5K
NOI $14,249 @ 7.0% cap · market cap 8.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$303.6K
$265.6K – $354.2K
NOI $21,251 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,707
Businesses Nearby
Explore this area
Business Placement
Demographics for 20895, MD
19,753
Population
7,316
Households
2.7
Avg Household Size
42
Median Age
74%
College-Educated
97%
High-School Grad
4.1 sq mi
ZIP Area
4,818
Density / Sq Mi
$169,527
Median Household Income
$88,513
Median Earnings
$2,075
Median Rent
$744,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condo in a 30-unit building with dedicated parking and convenient access to shopping, dining, and Metro service.
Where is this residential income property located?
The property is located at 3355 UNIVERSITY BLVD W #206 Kensington, MD.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: 863‑square‑foot condominium with 2 bedrooms and 1 bathroom; Updated kitchen equipped with stainless steel appliances; One dedicated parking space included
