Loft-Style Residential Income
For Sale
$305,000
Pending
501 HUNGERFORD DRIVE Unit 315, Rockville, MD 20850
The 2003 condo includes a private balcony, in-unit laundry and assigned garage parking.
Property Size1,048 SF
Days on Market178
Property Features for 501 HUNGERFORD DRIVE Unit 315
General Information
Standard status
Pending
Size
1,048 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,285
Amenities
private balcony
in-unit washer/dryer
private storage unit
Building Details
Building Size
1,048 SF
Year Built
2003
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: May 7
Changed: Oct 27
Last Checked: Oct 26 at 2:26PM
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 Jack Realty Group
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Investment Insights
Based on property information with market context.
This 1,048-square-foot condominium pairs an open main living level with an upstairs loft overlooking the space below. The kitchen has a two-tier island, white cabinetry, dark countertops and stainless steel appliances updated in 2022. A main-level bedroom includes an en-suite bathroom and walk-in closet. The unit also has a private balcony, in-unit washer and dryer, two assigned garage spaces and a private storage unit. The air conditioning was replaced in 2025.
Dining, shopping and the Rockville Metro are described as steps from the property, which is located in Rockville, Maryland.
Dining, shopping and the Rockville Metro are described as steps from the property, which is located in Rockville, Maryland.
Key Highlights
- 1,048‑square‑foot loft‑style condominium
- Two assigned garage parking spaces and a private storage unit
- Stainless steel appliances updated in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,304
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,080
$346.1K
Cap Rate 7%
$247,200
$247.2K
Cap Rate 9%
$192,267
$192.3K
Market Conditions
NOI Build-Up for 1,048 SF
Gross rent
$33.8K $32.28/SF
− Vacancy
−$2.4K −$2.26/SF
EGI
$31.5K $30.02/SF
− OpEx
−$14.2K −$13.51/SF
NOI
$17.3K $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%
$346,080
Cap Rate 7%
$247,200
Cap Rate 9%
$192,267
Alternative Uses
Best Use
Apartment 5plus
$247.2K
$216.3K – $288.4K
NOI $17,304 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$368.7K
$322.6K – $430.1K
NOI $25,806 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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 2003 condo includes a private balcony, in-unit laundry and assigned garage parking.
Where is this residential income property located?
The property is located at 501 HUNGERFORD DRIVE Unit 315 Rockville, MD.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: 1,048‑square‑foot loft‑style condominium; Two assigned garage parking spaces and a private storage unit; Stainless steel appliances updated in 2022
