One-Bedroom Condo with
For Sale
$218,569
501 HUNGERFORD DRIVE Unit 265, Rockville, MD 20850
A second-floor home combines private outdoor space and in-unit laundry with access to community recreation amenities.
Property Size632 SF
Price / SF$345.84
Days on Market50
Property Features for 501 HUNGERFORD DRIVE Unit 265
General Information
Standard status
Active
Size
632 SF
Total Parking Spaces
1
Property subtype
Penthouse Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$4,662
Amenities
outdoor swimming pool
fully equipped gym
party room
theater room
cyber cafe
bike storage
secure package and mail room
Building Details
Building Size
632 SF
Year Built
2003
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Sep 10
Changed: Oct 27
Last Checked: Oct 26 at 3:02PM
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 632-square-foot, one-bedroom condominium occupies the second floor and includes a private balcony, an open living and dining area, and an updated kitchen with white cabinetry, gas cooking, a newer dishwasher, and counter seating. LVP flooring runs throughout, and the home also has an in-unit washer and dryer and a newer HVAC system. One deeded parking space is provided in the attached garage. The building was constructed in 2003.
The gated community offers an outdoor pool, gym, party room with billiard and ping-pong tables, theater room, cyber cafe, bike storage, and a secure package and mail room. Rockville Town Center and the Metro station are nearby, along with shops, restaurants, grocery stores, a library, and a movie theater. Access to I-270, the ICC, MARC rail service, and bus lines is also noted.
This unit is a Moderately Priced Dwelling Unit intended for owner occupancy. Rental use is prohibited under the City of Rockville’s MPDU rules and Chapter 13.5 of the city code. The condo fee includes FIOS internet and cable TV; water and sewer are billed with the fee.
The gated community offers an outdoor pool, gym, party room with billiard and ping-pong tables, theater room, cyber cafe, bike storage, and a secure package and mail room. Rockville Town Center and the Metro station are nearby, along with shops, restaurants, grocery stores, a library, and a movie theater. Access to I-270, the ICC, MARC rail service, and bus lines is also noted.
This unit is a Moderately Priced Dwelling Unit intended for owner occupancy. Rental use is prohibited under the City of Rockville’s MPDU rules and Chapter 13.5 of the city code. The condo fee includes FIOS internet and cable TV; water and sewer are billed with the fee.
Key Highlights
- 632‑square‑foot, one‑bedroom condominium with a private balcony
- One deeded parking space in the attached garage
- 2003 construction in a gated community
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,435
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$208,700
$208.7K
Cap Rate 7%
$149,071
$149.1K
Cap Rate 9%
$115,944
$115.9K
Market Conditions
NOI Build-Up for 632 SF
Gross rent
$20.4K $32.28/SF
− Vacancy
−$1.4K −$2.26/SF
EGI
$19.0K $30.02/SF
− OpEx
−$8.5K −$13.51/SF
NOI
$10.4K $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%
$208,700
Cap Rate 7%
$149,071
Cap Rate 9%
$115,944
Alternative Uses
Best Use
Apartment 5plus
$149.1K
$130.4K – $173.9K
NOI $10,435 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$222.3K
$194.5K – $259.4K
NOI $15,563 @ 7.0% cap · market cap 7.12%
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 - A second-floor home combines private outdoor space and in-unit laundry with access to community recreation amenities.
Where is this residential income property located?
The property is located at 501 HUNGERFORD DRIVE Unit 265 Rockville, MD.
What is the asking price?
The asking price for this property is $218,569.
What are key features of this property?
This property features: 632‑square‑foot, one‑bedroom condominium with a private balcony; One deeded parking space in the attached garage; 2003 construction in a gated community
