Residential Condo with
For Sale
$238,000
501 HUNGERFORD DRIVE Unit P79, Rockville, MD 20850
The condo includes two garage spaces, a storage unit, and access to shared fitness and recreation amenities.
Property Size854 SF
Price / SF$278.69
Days on Market43
Property Features for 501 HUNGERFORD DRIVE Unit P79
General Information
Standard status
Active
Size
854 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,501
Amenities
swimming pool
gym
party room
billiard and ping-pong tables
theater room
bike storage
Building Details
Building Size
854 SF
Year Built
2003
Listing Agency:
Evergreen Properties
Listed By:
Yungtun Yang · License #530337
(703) 861-0383
Source:
Jackrealtygroup
Added: Sep 17
Changed: Oct 27
Last Checked: Oct 26 at 2:56PM
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 Evergreen Properties
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Investment Insights
Based on property information with market context.
This 854-square-foot condo at The Fitz at Rockville Town Center was built in 2003. The unit has ceramic tile floors, an updated bathroom with a walk-in shower, a bonus room, and a full-size side-by-side washer and dryer. A south-facing balcony overlooks an open field and greenery. The sale includes two garage spaces and a large storage unit.
Residents have access to a swimming pool, gym, party room with billiards and ping-pong, theater room, and bike storage. The condo fee includes FIOS internet and cable. The property is within walking distance of the Metro, grocery stores, shops, restaurants, a movie theater, a library, and a weekend farmers market. I-270 is minutes away, with NIH and Washington, DC, noted as commute destinations.
Residents have access to a swimming pool, gym, party room with billiards and ping-pong, theater room, and bike storage. The condo fee includes FIOS internet and cable. The property is within walking distance of the Metro, grocery stores, shops, restaurants, a movie theater, a library, and a weekend farmers market. I-270 is minutes away, with NIH and Washington, DC, noted as commute destinations.
Key Highlights
- 854‑square‑foot condo built in 2003
- Two garage spaces and a large storage unit included
- South‑facing balcony overlooking an open field and greenery
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,101
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$282,020
$282.0K
Cap Rate 7%
$201,443
$201.4K
Cap Rate 9%
$156,678
$156.7K
Market Conditions
NOI Build-Up for 854 SF
Gross rent
$27.6K $32.28/SF
− Vacancy
−$1.9K −$2.26/SF
EGI
$25.6K $30.02/SF
− OpEx
−$11.5K −$13.51/SF
NOI
$14.1K $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%
$282,020
Cap Rate 7%
$201,443
Cap Rate 9%
$156,678
Alternative Uses
Best Use
Apartment 5plus
$201.4K
$176.3K – $235.0K
NOI $14,101 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$300.4K
$262.9K – $350.5K
NOI $21,029 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
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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 - The condo includes two garage spaces, a storage unit, and access to shared fitness and recreation amenities.
Where is this residential income property located?
The property is located at 501 HUNGERFORD DRIVE Unit P79 Rockville, MD.
What is the asking price?
The asking price for this property is $238,000.
What are key features of this property?
This property features: 854‑square‑foot condo built in 2003; Two garage spaces and a large storage unit included; South‑facing balcony overlooking an open field and greenery
