First-Level Residential Income
For Sale
$245,000
501 HUNGERFORD DRIVE Unit P96, Rockville, MD 20850
A one-bedroom residence combines updated interior finishes with access to shared recreation and gathering spaces.
Property Size732 SF
Price / SF$334.70
Days on Market14
Property Features for 501 HUNGERFORD DRIVE Unit P96
General Information
Standard status
Active
Size
732 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,170
Amenities
swimming pool
fitness center
club room
billiards room
media room
private patio
Building Details
Building Size
732 SF
Year Built
2003
Listing Agency:
Compass
Listed By:
Peter J Ferguson · License #654669
(847) 903-1030
Source:
Jackrealtygroup
Added: Oct 16
Changed: Oct 27
Last Checked: Oct 26 at 2:35PM
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 Compass
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Investment Insights
Based on property information with market context.
Built in 2003, this first-level, one-bedroom condo at The Fitz offers 732 square feet of living space. Recent interior work includes new flooring throughout, quartz kitchen countertops, and stainless steel appliances. The residence also has a private patio, and its ground-level placement avoids stairs and elevator use.
The gated community includes a swimming pool, fitness center, club room, billiards room, and media room. Giant and other shopping options are nearby, while downtown Rockville and the Rockville Metro station are within walking distance. I-270 and the ICC are also close by.
The gated community includes a swimming pool, fitness center, club room, billiards room, and media room. Giant and other shopping options are nearby, while downtown Rockville and the Rockville Metro station are within walking distance. I-270 and the ICC are also close by.
Key Highlights
- 732‑square‑foot, one‑bedroom condo built in 2003
- First‑level location with no stairs or elevator required
- New flooring, quartz kitchen countertops, and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,086
Cap Rate
4.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$241,720
$241.7K
Cap Rate 7%
$172,657
$172.7K
Cap Rate 9%
$134,289
$134.3K
Market Conditions
NOI Build-Up for 732 SF
Gross rent
$23.6K $32.28/SF
− Vacancy
−$1.7K −$2.26/SF
EGI
$22.0K $30.02/SF
− OpEx
−$9.9K −$13.51/SF
NOI
$12.1K $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%
$241,720
Cap Rate 7%
$172,657
Cap Rate 9%
$134,289
Alternative Uses
Best Use
Apartment 5plus
$172.7K
$151.1K – $201.4K
NOI $12,086 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$257.5K
$225.3K – $300.4K
NOI $18,025 @ 7.0% cap · market cap 7.36%
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
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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Frequently Asked Questions
What type of property is this?
Residential income property - A one-bedroom residence combines updated interior finishes with access to shared recreation and gathering spaces.
Where is this residential income property located?
The property is located at 501 HUNGERFORD DRIVE Unit P96 Rockville, MD.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 732‑square‑foot, one‑bedroom condo built in 2003; First‑level location with no stairs or elevator required; New flooring, quartz kitchen countertops, and stainless steel appliances
