Residential Condominium with Garage
For Sale
$221,390
501 HUNGERFORD DRIVE Unit 149, Rockville, MD 20850
The unit combines an updated kitchen, in-home laundry, and access to shared recreation and gathering spaces.
Property Size619 SF
Price / SF$357.66
Days on Market60
Property Features for 501 HUNGERFORD DRIVE Unit 149
General Information
Standard status
Active
Size
619 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,356
Amenities
outdoor swimming pool
fitness center
courtyard
meeting room
party room with billiards
in-unit washer and dryer
Building Details
Building Size
619 SF
Year Built
2003
Listing Agency:
EQCO Real Estate Inc.
Listed By:
Caleb Prater
(678) 665-0535
Source:
Jackrealtygroup
Added: Aug 31
Changed: Oct 27
Last Checked: Oct 26 at 3:48PM
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 EQCO Real Estate Inc.
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Investment Insights
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This residential condominium features an open layout, hardwood flooring, and a renovated kitchen with stainless steel appliances, a tiled backsplash, and breakfast-bar seating. A walk-in closet, in-unit washer and dryer, and one assigned garage parking space serve the unit. The building, constructed in 2003, offers an outdoor pool, fitness center, courtyard, meeting room, and party room with billiards. Basic cable and high-speed internet are included in the condo fee.
Rockville Metro and Rockville Town Square are a few blocks away, with restaurants, shops, entertainment, and daily services in the surrounding area. The unit is subject to the City of Rockville MPDU program, including its applicable rules and eligibility requirements. It must be occupied as a primary residence.
Rockville Metro and Rockville Town Square are a few blocks away, with restaurants, shops, entertainment, and daily services in the surrounding area. The unit is subject to the City of Rockville MPDU program, including its applicable rules and eligibility requirements. It must be occupied as a primary residence.
Key Highlights
- Assigned garage parking space
- Updated kitchen with stainless steel appliances and breakfast‑bar seating
- In‑unit washer and dryer; hardwood flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,220
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$204,400
$204.4K
Cap Rate 7%
$146,000
$146.0K
Cap Rate 9%
$113,556
$113.6K
Market Conditions
NOI Build-Up for 619 SF
Gross rent
$20.0K $32.28/SF
− Vacancy
−$1.4K −$2.26/SF
EGI
$18.6K $30.02/SF
− OpEx
−$8.4K −$13.51/SF
NOI
$10.2K $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%
$204,400
Cap Rate 7%
$146,000
Cap Rate 9%
$113,556
Alternative Uses
Best Use
Apartment 5plus
$146.0K
$127.8K – $170.3K
NOI $10,220 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$217.7K
$190.5K – $254.0K
NOI $15,242 @ 7.0% cap · market cap 6.88%
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
3,126
Businesses Nearby
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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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Frequently Asked Questions
What type of property is this?
Residential income property - The unit combines an updated kitchen, in-home laundry, and access to shared recreation and gathering spaces.
Where is this residential income property located?
The property is located at 501 HUNGERFORD DRIVE Unit 149 Rockville, MD.
What is the asking price?
The asking price for this property is $221,390.
What are key features of this property?
This property features: Assigned garage parking space; Updated kitchen with stainless steel appliances and breakfast‑bar seating; In‑unit washer and dryer; hardwood flooring
