Residential Income Property with
For Sale
$255,000
501 HUNGERFORD DR #105, Rockville, MD 20850
ROCKVILLE, MD
Property Size877 SF
Price / SF$290.76
Days on Market82
Property Features for 501 HUNGERFORD DR #105
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1
Subdivision
THE FITZ
Elementary school
BEALL
Middle school
JULIUS WEST
High school
RICHARD MONTGOMERY
Elementary school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
Middle school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
High school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
Standard status
Active
Amenities
in-unit washer and dryer
balcony/patio
swimming pool
fitness center
theater/media room
cybercaf
clubhouse
billiards and ping pong lounge
meeting room
landscaped courtyard
Building Details
Year built
2003
Listing Agency:
Chevy Chase Circle
(202) 966-1400
Listed By:
Ron Sitrin
Added: Jun 26
Changed: Sep 10
Last Checked: Sep 15 at 4:06AM
MLS# MDMC2242636
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 877-square-foot condominium unit at The Fitz combines an open living area with wood floors, crown molding, and balcony access. The kitchen features granite work surfaces, tile flooring, a breakfast bar, and GE Profile stainless steel appliances, including a refrigerator, dishwasher, and five-burner gas range. The primary suite includes a walk-in closet and dual-entry full bath with a granite vanity. An in-unit washer and dryer, 2018 water heater, and replaced HVAC evaporator coil and compressor add practical value.
The property includes two deeded garage parking spaces on the unit’s level and deeded heated storage unit S10. Community amenities include an outdoor pool, fitness center, theater/media room, cybercafé, clubhouse, billiards and ping pong lounge, meeting room, and landscaped courtyard. Rockville Town Center, the Rockville Metro and MARC Train, restaurants, shops, groceries, entertainment, and a seasonal farmers market are nearby, with access to I-270 and Route 355.
The property includes two deeded garage parking spaces on the unit’s level and deeded heated storage unit S10. Community amenities include an outdoor pool, fitness center, theater/media room, cybercafé, clubhouse, billiards and ping pong lounge, meeting room, and landscaped courtyard. Rockville Town Center, the Rockville Metro and MARC Train, restaurants, shops, groceries, entertainment, and a seasonal farmers market are nearby, with access to I-270 and Route 355.
Key Highlights
- 877‑square‑foot unit with balcony access and open living area
- Two deeded garage parking spaces on the same level as the unit
- Deeded heated storage unit S10 included
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
$14,480
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
5.68%
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%
$289,600
$289.6K
Cap Rate 7%
$206,857
$206.9K
Cap Rate 9%
$160,889
$160.9K
Market Conditions
NOI Build-Up for 877 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
$28.3K $32.28/SF
− Vacancy
−$2.0K −$2.26/SF
EGI
$26.3K $30.02/SF
− OpEx
−$11.8K −$13.51/SF
NOI
$14.5K $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%
$289,600
Cap Rate 7%
$206,857
Cap Rate 9%
$160,889
Alternative Uses
Best Use
Apartment 5plus
$206.9K
$181.0K – $241.3K
NOI $14,480 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$308.5K
$270.0K – $359.9K
NOI $21,596 @ 7.0% cap · market cap 8.47%
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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,126
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
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 - Updated condominium unit with two garage spaces, private storage, extensive amenities, and convenient access to rail, shopping, and major routes.
Where is this residential income property located?
The property is located at 501 HUNGERFORD DR #105 Rockville, MD.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 877‑square‑foot unit with balcony access and open living area; Two deeded garage parking spaces on the same level as the unit; Deeded heated storage unit S10 included
