Top-Floor Residential Income
For Sale
$949,900
3505 BELLFLOWER LANE Unit 408, Rockville, MD 20852
Top-floor residence with elevator access, secured parking, and extensive shared amenities within Tower Oaks.
Property Size1,658 SF
Price / SF$572.92
Days on Market124
Property Features for 3505 BELLFLOWER LANE Unit 408
General Information
Standard status
Active
Size
1,658 SF
Total Parking Spaces
2
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$10,522
Amenities
fitness center
yoga studio
seasonal pool
community grill stations
heated outdoor patios
arts and crafts space
seating nooks
Building Details
Building Size
1,658 SF
Year Built
2021
Listing Agency:
Samson Properties
(202) 369-1355
Listed By:
John M Burgess · License #506800
(202) 369-1355
Source:
Barnesrealestatecompany
Added: Apr 8
Changed: Aug 8
Last Checked: Aug 8 at 9:39AM
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
Investment Insights
Based on property information with market context.
This 2021 residential income property is a top-floor Declan model with 1,658 square feet of living space. The building provides elevator service, on-site management, and a secured under-building garage with two dedicated tandem spaces. The residence is part of Tower Oaks and is positioned near I-270, with Clyde's Tower Oaks Lodge and neighborhood parks across the street.
Community amenities are centered around the CORE clubhouse, which includes a fitness center, yoga studio, seasonal pool, arts and crafts space, and seating areas. Outdoor features include heated patios and community grill stations. Regular programming includes card games, Mahjong, and hosted social events, while visiting food trucks add another on-site convenience.
Community amenities are centered around the CORE clubhouse, which includes a fitness center, yoga studio, seasonal pool, arts and crafts space, and seating areas. Outdoor features include heated patios and community grill stations. Regular programming includes card games, Mahjong, and hosted social events, while visiting food trucks add another on-site convenience.
Key Highlights
- 1,658‑square‑foot top‑floor Declan model built in 2021
- Two dedicated tandem spaces in the secured under‑building garage
- Elevator building with on‑site management
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
$27,376
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
2.88%
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%
$547,520
$547.5K
Cap Rate 7%
$391,086
$391.1K
Cap Rate 9%
$304,178
$304.2K
Market Conditions
NOI Build-Up for 1,658 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
$53.5K $32.28/SF
− Vacancy
−$3.7K −$2.26/SF
EGI
$49.8K $30.02/SF
− OpEx
−$22.4K −$13.51/SF
NOI
$27.4K $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%
$547,520
Cap Rate 7%
$391,086
Cap Rate 9%
$304,178
Alternative Uses
Best Use
Apartment 5plus
$391.1K
$342.2K – $456.3K
NOI $27,376 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$583.2K
$510.3K – $680.5K
NOI $40,827 @ 7.0% cap · market cap 4.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,162
Businesses Nearby
Explore this area
Business Placement
Demographics for 20852, MD
48,347
Population
23,023
Households
2.1
Avg Household Size
38
Median Age
74%
College-Educated
94%
High-School Grad
8.1 sq mi
ZIP Area
5,969
Density / Sq Mi
$121,496
Median Household Income
$74,519
Median Earnings
$2,212
Median Rent
$646,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Top-floor residence with elevator access, secured parking, and extensive shared amenities within Tower Oaks.
Where is this residential income property located?
The property is located at 3505 BELLFLOWER LANE Unit 408 Rockville, MD.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: 1,658‑square‑foot top‑floor Declan model built in 2021; Two dedicated tandem spaces in the secured under‑building garage; Elevator building with on‑site management
