Corner Condominium with Garage
38 MARYLAND AVENUE Unit 411, Rockville, MD 20850
For Sale
New
$784,800
Single-level residence with an open kitchen, renovated primary bath, and access to a pool, fitness center, and club room.
Property Size1,822 SF
Price / SF$430.74
Days on Market4
Property Features for 38 MARYLAND AVENUE Unit 411
General Information
Standard status
Size
Total Parking Spaces
Elevators
Property subtype
Site & Location
Highway Access
Public Transit
Units
Unit Mix
Multifamily Units
Parking per Unit
Taxes and HOA fees
Annual Taxes
Amenities
pool
fitness center
club room
in-unit laundry
storage units
Building Details
Building Size
Year Built
Listing Agency:
Washington Fine Properties
Listed By:
Richard Newcomb Jr. · License MD #649491
(240) 672-5008
Source:
Kerishull
Added: Nov 12
Changed: Nov 14
Last Checked: Nov 14 at 2:27PM
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 Washington Fine Properties
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Investment Insights
Based on property information with market context.
This 1,822-square-foot corner condominium in Palladian has three bedrooms and two bathrooms arranged on one level. The great room connects to an open kitchen with granite counters, stainless steel appliances, and a fireclay backsplash. Wood floors, windows on two sides, multiple storage closets, and full-size in-unit laundry add practical features. The primary suite includes a renovated en-suite bathroom and two walk-in closets; the other two bedrooms can also serve as office or guest space.
The property is in Rockville Town Square, near restaurants, shops, parks, Metro, Trader Joe’s, downtown Rockville offices, courthouses, and the community library. I-270 and Route 355 are nearby.
Two garage parking spaces and two storage units are included. Community amenities include a pool, fitness center, and club room. The building dates to 2007.
The property is in Rockville Town Square, near restaurants, shops, parks, Metro, Trader Joe’s, downtown Rockville offices, courthouses, and the community library. I-270 and Route 355 are nearby.
Two garage parking spaces and two storage units are included. Community amenities include a pool, fitness center, and club room. The building dates to 2007.
Key Highlights
- 1,822‑square‑foot corner condominium with three bedrooms and two bathrooms
- Two garage parking spaces and two additional storage units
- Primary suite has a renovated en‑suite bath and two walk‑in closets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,083
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$601,660
$601.7K
Cap Rate 7%
$429,757
$429.8K
Cap Rate 9%
$334,256
$334.3K
Market Conditions
NOI Build-Up for 1,822 SF
Gross rent
$58.8K $32.28/SF
− Vacancy
−$4.1K −$2.26/SF
EGI
$54.7K $30.02/SF
− OpEx
−$24.6K −$13.51/SF
NOI
$30.1K $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%
$601,660
Cap Rate 7%
$429,757
Cap Rate 9%
$334,256
Alternative Uses
Best Use
Apartment 5plus
$429.8K
$376.0K – $501.4K
NOI $30,083 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$640.9K
$560.8K – $747.8K
NOI $44,866 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,289
Businesses Nearby
Explore this area
Business Placement
Demographics for 20850, MD
51,045
Population
22,468
Households
2.3
Avg Household Size
41
Median Age
67%
College-Educated
94%
High-School Grad
14.1 sq mi
ZIP Area
3,620
Density / Sq Mi
$122,691
Median Household Income
$77,679
Median Earnings
$2,277
Median Rent
$687,200
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Montgomery County, MD
Properties on Market for Residential income properties in Montgomery County
Frequently Asked Questions
What type of property is this?
Residential income property - Single-level residence with an open kitchen, renovated primary bath, and access to a pool, fitness center, and club room.
Where is this residential income property located?
The property is located at 38 MARYLAND AVENUE Unit 411 Rockville, MD.
What is the asking price?
The asking price for this property is $784,800.
What are key features of this property?
This property features: 1,822‑square‑foot corner condominium with three bedrooms and two bathrooms; Two garage parking spaces and two additional storage units; Primary suite has a renovated en‑suite bath and two walk‑in closets
