Top-Floor Residential Income
For Sale
$244,900
501 HUNGERFORD DRIVE Unit 463, Rockville, MD 20850
The condominium includes a private balcony, in-unit laundry, and covered-garage parking.
Property Size877 SF
Price / SF$279.25
Days on Market108
Property Features for 501 HUNGERFORD DRIVE Unit 463
General Information
Standard status
Active
Size
877 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,465
Amenities
swimming pool
fitness center
clubhouse
beautifully maintained grounds
in-unit laundry
secure access
Building Details
Building Size
877 SF
Year Built
2003
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Jul 14
Changed: Oct 27
Last Checked: Oct 26 at 4:07PM
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 877-square-foot, top-floor condominium in a 2003 building has an open living and dining area, one bedroom, a kitchen with cabinet and counter space, and a private balcony. In-unit laundry and a covered-garage parking space are included; the space is near the elevator and building access. Community amenities include a swimming pool, fitness center, and clubhouse, with internet and secure access included in the condo fees.
The property is at 501 Hungerford Drive in Rockville, minutes from Rockville Town Center, Metro, restaurants, shopping, parks, I-270, and MD-355.
The property is at 501 Hungerford Drive in Rockville, minutes from Rockville Town Center, Metro, restaurants, shopping, parks, I-270, and MD-355.
Key Highlights
- 877‑square‑foot condominium in a 2003 building
- Top‑floor unit with private balcony and in‑unit laundry
- One bedroom with closet storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,480
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$289,600
$289.6K
Cap Rate 7%
$206,857
$206.9K
Cap Rate 9%
$160,889
$160.9K
Market Conditions
NOI Build-Up for 877 SF
Gross rent
$28.3K $32.28/SF
− Vacancy
−$2.0K −$2.26/SF
EGI
$26.3K $30.02/SF
− OpEx
−$11.8K −$13.51/SF
NOI
$14.5K $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%
$289,600
Cap Rate 7%
$206,857
Cap Rate 9%
$160,889
Alternative Uses
Best Use
Apartment 5plus
$206.9K
$181.0K – $241.3K
NOI $14,480 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$308.5K
$270.0K – $359.9K
NOI $21,596 @ 7.0% cap · market cap 8.82%
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 - The condominium includes a private balcony, in-unit laundry, and covered-garage parking.
Where is this residential income property located?
The property is located at 501 HUNGERFORD DRIVE Unit 463 Rockville, MD.
What is the asking price?
The asking price for this property is $244,900.
What are key features of this property?
This property features: 877‑square‑foot condominium in a 2003 building; Top‑floor unit with private balcony and in‑unit laundry; One bedroom with closet storage
