Updated One-Bedroom
For Sale
$125,000
500 THAYER AVENUE Unit 303, Silver Spring, MD 20910
The renovated kitchen offers ample storage, complemented by refreshed bathroom finishes and wood flooring.
Property Size679 SF
Price / SF$184.09
Days on Market146
Property Features for 500 THAYER AVENUE Unit 303
General Information
Standard status
Active
Size
679 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,314
Building Details
Building Size
679 SF
Year Built
1960
Listing Agency:
Compass
Listed By:
Rhonda L Mortensen · License #529070
(301) 326-6401
Source:
Jackrealtygroup
Added: Jun 5
Changed: Oct 27
Last Checked: Oct 26 at 3:18PM
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
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Investment Insights
Based on property information with market context.
This 679-square-foot, one-bedroom condominium features updated appliances and cabinetry, wood floors, and a refreshed bathroom. The kitchen provides more storage capacity than its appearance suggests. The building was constructed in 1960, and a new elevator is being installed by the condominium association.
Key Highlights
- 679‑square‑foot one‑bedroom condominium
- Updated kitchen appliances and cabinets
- Wood flooring and refreshed bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,211
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$224,220
$224.2K
Cap Rate 7%
$160,157
$160.2K
Cap Rate 9%
$124,567
$124.6K
Market Conditions
NOI Build-Up for 679 SF
Gross rent
$21.9K $32.28/SF
− Vacancy
−$1.5K −$2.26/SF
EGI
$20.4K $30.02/SF
− OpEx
−$9.2K −$13.51/SF
NOI
$11.2K $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 Rate 5%
$224,220
Cap Rate 7%
$160,157
Cap Rate 9%
$124,567
Alternative Uses
Best Use
Apartment 5plus
$160.2K
$140.1K – $186.9K
NOI $11,211 @ 7.0% cap · market cap 8.97%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$238.9K
$209.0K – $278.7K
NOI $16,720 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,075
Businesses Nearby
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Business Placement
Demographics for 20910, MD
45,610
Population
23,209
Households
2
Avg Household Size
36
Median Age
74%
College-Educated
95%
High-School Grad
4.6 sq mi
ZIP Area
9,915
Density / Sq Mi
$107,994
Median Household Income
$70,022
Median Earnings
$1,992
Median Rent
$690,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The renovated kitchen offers ample storage, complemented by refreshed bathroom finishes and wood flooring.
Where is this residential income property located?
The property is located at 500 THAYER AVENUE Unit 303 Silver Spring, MD.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 679‑square‑foot one‑bedroom condominium; Updated kitchen appliances and cabinets; Wood flooring and refreshed bathroom
