Three-Bedroom Residential Income
For Sale
$559,000
4601 N PARK AVENUE #613, Chevy Chase, MD 20815
Condominium residence with updated finishes, two parking spaces, and access to indoor recreation and fitness amenities.
Property Size1,423 SF
Price / SF$392.83
Days on Market14
Property Features for 4601 N PARK AVENUE #613
General Information
Standard status
Active
Size
1,423 SF
Total Parking Spaces
2
Property subtype
Apartment
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Amenities
24 hour security
indoor pool
fitness center
in unit washer and dryer
Building Details
Year Built
1975
Listing Agency:
Compass
(301) 304-8444
Listed By:
Marjorie S Halem
(301) 775-4196
Source:
Cummingsrealtors
Added: Sep 11
Changed: Sep 23
Last Checked: Sep 24 at 9:37AM
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 Compass
Investment Insights
Based on property information with market context.
This condominium residence provides 1,423 square feet with three bedrooms and two baths. Interior features include hardwood flooring, an updated kitchen equipped with stainless steel appliances, custom closet systems, substantial storage, and a dedicated dining area. The primary bedroom includes a walk-in closet with custom organizers and a private ensuite bath. An in-unit washer and dryer adds practical convenience.
Two assigned parking spaces, #G240 and #239, accompany the residence. Building amenities include 24-hour security, an indoor pool, and a fitness center. Constructed in 1975, the property is located at 4601 N Park Avenue #613 in Chevy Chase, Maryland.
Two assigned parking spaces, #G240 and #239, accompany the residence. Building amenities include 24-hour security, an indoor pool, and a fitness center. Constructed in 1975, the property is located at 4601 N Park Avenue #613 in Chevy Chase, Maryland.
Key Highlights
- 1,423‑square‑foot condominium residence with 3 bedrooms and 2 baths
- Updated kitchen with stainless steel appliances
- Primary suite includes a walk‑in closet and private ensuite full bath
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
$23,495
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
4.20%
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%
$469,900
$469.9K
Cap Rate 7%
$335,643
$335.6K
Cap Rate 9%
$261,056
$261.1K
Market Conditions
NOI Build-Up for 1,423 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
$45.9K $32.28/SF
− Vacancy
−$3.2K −$2.26/SF
EGI
$42.7K $30.02/SF
− OpEx
−$19.2K −$13.51/SF
NOI
$23.5K $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%
$469,900
Cap Rate 7%
$335,643
Cap Rate 9%
$261,056
Alternative Uses
Best Use
Apartment 5plus
$335.6K
$293.7K – $391.6K
NOI $23,495 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$500.6K
$438.0K – $584.0K
NOI $35,040 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,695
Businesses Nearby
Explore this area
Business Placement
Demographics for 20815, MD
31,517
Population
14,192
Households
2.2
Avg Household Size
46
Median Age
85%
College-Educated
98%
High-School Grad
5.4 sq mi
ZIP Area
5,836
Density / Sq Mi
$198,243
Median Household Income
$106,711
Median Earnings
$2,408
Median Rent
$1,230,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with updated finishes, two parking spaces, and access to indoor recreation and fitness amenities.
Where is this residential income property located?
The property is located at 4601 N PARK AVENUE #613 Chevy Chase, MD.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: 1,423‑square‑foot condominium residence with 3 bedrooms and 2 baths; Updated kitchen with stainless steel appliances; Primary suite includes a walk‑in closet and private ensuite full bath
