Three-Bedroom Residential Income
For Sale
$245,000
415 CHRISTOPHER AVENUE Unit 112, Gaithersburg, MD 20879
Brick residential unit with shared pool, tennis courts, and in-unit laundry hookups.
Property Size1,164 SF
Days on Market11
Property Features for 415 CHRISTOPHER AVENUE Unit 112
General Information
Standard status
Active
Size
1,164 SF
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,897
Amenities
outdoor pool
tennis courts
in-unit washer and dryer hookups
Building Details
Building Size
1,164 SF
Year Built
1974
Construction
brick
Listing Agency:
One Percent Lists Mid-Atlantic
Listed By:
Robby B Douglas · License #662916
(443) 617-7373
Source:
Thehulsmangroup
Added: Sep 14
Changed: Sep 19
Last Checked: Sep 22 at 9:41PM
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 One Percent Lists Mid-Atlantic
Investment Insights
Based on property information with market context.
This residential income property is a three-bedroom, two-bathroom unit in a brick-built community. The layout includes a primary bathroom with a tub and shower, along with hookups for an in-unit washer and dryer. The property was built in 1974.
Community amenities include an outdoor swimming pool, tennis courts, and maintained common grounds. The association covers common-area maintenance and lawn care. Located at 415 Christopher Avenue, Unit 112, in Gaithersburg, Maryland, the property is part of the Hyde Park community and is available for sale.
Community amenities include an outdoor swimming pool, tennis courts, and maintained common grounds. The association covers common-area maintenance and lawn care. Located at 415 Christopher Avenue, Unit 112, in Gaithersburg, Maryland, the property is part of the Hyde Park community and is available for sale.
Key Highlights
- Three bedrooms and two full bathrooms
- Brick construction with a 1974 build year
- In‑unit washer and dryer hookups
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
$19,219
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
7.84%
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%
$384,380
$384.4K
Cap Rate 7%
$274,557
$274.6K
Cap Rate 9%
$213,544
$213.5K
Market Conditions
NOI Build-Up for 1,164 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
$37.6K $32.28/SF
− Vacancy
−$2.6K −$2.26/SF
EGI
$34.9K $30.02/SF
− OpEx
−$15.7K −$13.51/SF
NOI
$19.2K $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%
$384,380
Cap Rate 7%
$274,557
Cap Rate 9%
$213,544
Alternative Uses
Best Use
Apartment 5plus
$274.6K
$240.2K – $320.3K
NOI $19,219 @ 7.0% cap · market cap 7.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$409.5K
$358.3K – $477.7K
NOI $28,663 @ 7.0% cap · market cap 11.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,444
Businesses Nearby
Explore this area
Business Placement
Demographics for 20879, MD
26,176
Population
9,008
Households
2.9
Avg Household Size
37
Median Age
42%
College-Educated
87%
High-School Grad
8.6 sq mi
ZIP Area
3,044
Density / Sq Mi
$105,109
Median Household Income
$49,269
Median Earnings
$1,895
Median Rent
$433,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Brick residential unit with shared pool, tennis courts, and in-unit laundry hookups.
Where is this residential income property located?
The property is located at 415 CHRISTOPHER AVENUE Unit 112 Gaithersburg, MD.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Three bedrooms and two full bathrooms; Brick construction with a 1974 build year; In‑unit washer and dryer hookups
