Three-Bedroom Residential Income
501 HUNGERFORD DRIVE Unit 244, Rockville, MD 20850
For Sale
$425,000
A split-bedroom plan places the primary suite apart from two additional bedrooms.
Property Size1,465 SF
Price / SF$290.10
Days on Market45
Property Features for 501 HUNGERFORD DRIVE Unit 244
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Highway Access
Public Transit
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
pool
fitness center
club room
billiards
media room
dog play area
private balcony
laundry room
storage unit
Building Details
Building Size
Year Built
Listing Agency:
Glass House Real Estate
Listed By:
Khalil Alexander El-Ghoul · License #0225094538
(571) 235-4821
Source:
Signaturemoverealestate
Added: Sep 24
Changed: Nov 1
Last Checked: Nov 7 at 10:06AM
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 Glass House Real Estate
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Investment Insights
Based on property information with market context.
This 1,465-square-foot condominium at The Fitz at Rockville Town Center was built in 2003. Its open layout includes three bedrooms and two bathrooms, with the primary suite set apart from the other two bedrooms. Interior features include high ceilings, hardwood flooring, a private balcony, and a separate laundry room. Two assigned parking spaces and a storage unit are included.
Residents have access to a pool, fitness center, club room, billiards area, media room, and dog play area. Cable TV and high-speed internet are covered by the condo fee. Rockville Metro is within walking distance, with restaurants, retail, grocery stores, and daily necessities nearby. I-270 is also accessible from the area.
Residents have access to a pool, fitness center, club room, billiards area, media room, and dog play area. Cable TV and high-speed internet are covered by the condo fee. Rockville Metro is within walking distance, with restaurants, retail, grocery stores, and daily necessities nearby. I-270 is also accessible from the area.
Key Highlights
- 1,465‑square‑foot condominium built in 2003
- Three bedrooms and two bathrooms, with the primary suite separate from the other bedrooms
- Two assigned parking spaces and a storage unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,189
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$483,780
$483.8K
Cap Rate 7%
$345,557
$345.6K
Cap Rate 9%
$268,767
$268.8K
Market Conditions
NOI Build-Up for 1,465 SF
Gross rent
$47.3K $32.28/SF
− Vacancy
−$3.3K −$2.26/SF
EGI
$44.0K $30.02/SF
− OpEx
−$19.8K −$13.51/SF
NOI
$24.2K $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%
$483,780
Cap Rate 7%
$345,557
Cap Rate 9%
$268,767
Alternative Uses
Best Use
Apartment 5plus
$345.6K
$302.4K – $403.2K
NOI $24,189 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$515.4K
$450.9K – $601.3K
NOI $36,075 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
$687,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Residential income properties in Montgomery County, MD
Properties on Market for Residential income properties in Montgomery County
Frequently Asked Questions
What type of property is this?
Residential income property - A split-bedroom plan places the primary suite apart from two additional bedrooms.
Where is this residential income property located?
The property is located at 501 HUNGERFORD DRIVE Unit 244 Rockville, MD.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1,465‑square‑foot condominium built in 2003; Three bedrooms and two bathrooms, with the primary suite separate from the other bedrooms; Two assigned parking spaces and a storage unit
