One-Bedroom Condominium with
For Sale
$280,000
501 HUNGERFORD DRIVE Unit 360, Rockville, MD 20850
Residents have access to a pool, fitness center, club room, and attached garage parking.
Property Size962 SF
Price / SF$291.06
Days on Market35
Property Features for 501 HUNGERFORD DRIVE Unit 360
General Information
Standard status
Active
Size
962 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$3,598
Amenities
outdoor swimming pool
fitness center
club room
cybercafe
billiards table
ping pong table
Building Details
Building Size
962 SF
Year Built
2003
Listing Agency:
Weichert, REALTORS
Listed By:
Weiming Qi · License #643385
(301) 660-6678
Source:
Jackrealtygroup
Added: Sep 25
Changed: Oct 27
Last Checked: Oct 26 at 2:34PM
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 Weichert, REALTORS
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Investment Insights
Based on property information with market context.
This 962-square-foot condominium was built in 2003 and includes a balcony oriented toward the courtyard. The interior has a living and dining area, a kitchen with granite counters and bar seating, a primary bedroom with a walk-in closet, and a full bathroom with two entry points. One deeded parking space in the attached garage is included.
Building amenities include an outdoor pool, fitness center, club room, cybercafe, billiards, and ping pong. Cable and internet are included in the condo fee. Dining, shopping, and entertainment options at Rockville Town Center are steps away, with access to Route 355, I-270, the Red Line, and MARC.
Building amenities include an outdoor pool, fitness center, club room, cybercafe, billiards, and ping pong. Cable and internet are included in the condo fee. Dining, shopping, and entertainment options at Rockville Town Center are steps away, with access to Route 355, I-270, the Red Line, and MARC.
Key Highlights
- 962‑square‑foot, one‑bedroom condominium with courtyard‑facing balcony
- One deeded parking space in the attached garage
- Granite‑counter kitchen with bar seating; primary bedroom has a walk‑in closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,884
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$317,680
$317.7K
Cap Rate 7%
$226,914
$226.9K
Cap Rate 9%
$176,489
$176.5K
Market Conditions
NOI Build-Up for 962 SF
Gross rent
$31.1K $32.28/SF
− Vacancy
−$2.2K −$2.26/SF
EGI
$28.9K $30.02/SF
− OpEx
−$13.0K −$13.51/SF
NOI
$15.9K $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%
$317,680
Cap Rate 7%
$226,914
Cap Rate 9%
$176,489
Alternative Uses
Best Use
Apartment 5plus
$226.9K
$198.6K – $264.7K
NOI $15,884 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$338.4K
$296.1K – $394.8K
NOI $23,689 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
1
Residential units
Yes
Highway access
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 - Residents have access to a pool, fitness center, club room, and attached garage parking.
Where is this residential income property located?
The property is located at 501 HUNGERFORD DRIVE Unit 360 Rockville, MD.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 962‑square‑foot, one‑bedroom condominium with courtyard‑facing balcony; One deeded parking space in the attached garage; Granite‑counter kitchen with bar seating; primary bedroom has a walk‑in closet
