Ground-Level Condominium with
For Sale
$259,900
501 HUNGERFORD DRIVE Unit P85, Rockville, MD 20850
This one-bedroom residence includes a garage space and in-unit laundry.
Property Size854 SF
Price / SF$304.33
Days on Market107
Property Features for 501 HUNGERFORD DRIVE Unit P85
General Information
Standard status
Active
Size
854 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,411
Amenities
washer and dryer
balcony
community room
pool table
ping-pong table
fireplace
lounge area
kitchenette/bar area
theatre room
gym
swimming pool
Building Details
Building Size
854 SF
Year Built
2003
Listing Agency:
RE/MAX Professionals
Listed By:
Kevin Rollins · License #517829
(240) 432-7848
Source:
Jackrealtygroup
Added: Jul 15
Changed: Oct 26
Last Checked: Oct 26 at 3:24PM
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 RE/MAX Professionals
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Investment Insights
Based on property information with market context.
This 854-square-foot condominium has one bedroom and one bathroom, with a ground-level layout and 9-foot ceilings. The open-plan interior features vinyl plank flooring, a kitchen with a breakfast bar and cabinet and counter space, and an in-unit washer and dryer. A balcony and garage space are included. The building dates to 2003.
Residents have access to a community room with billiards and ping-pong, a fireplace lounge, kitchenette and bar area, a 12-seat theater room, a gym, and a swimming pool. Shopping, restaurants, entertainment, public transportation, and Rockville Metro Station are nearby.
Residents have access to a community room with billiards and ping-pong, a fireplace lounge, kitchenette and bar area, a 12-seat theater room, a gym, and a swimming pool. Shopping, restaurants, entertainment, public transportation, and Rockville Metro Station are nearby.
Key Highlights
- 854‑square‑foot, one‑bedroom, one‑bathroom condominium
- Ground‑level unit with balcony and 9‑foot ceilings
- Garage space included with the residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,101
Cap Rate
5.43%
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 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$300.4K
$262.9K – $350.5K
NOI $21,029 @ 7.0% cap · market cap 8.09%
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
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 - This one-bedroom residence includes a garage space and in-unit laundry.
Where is this residential income property located?
The property is located at 501 HUNGERFORD DRIVE Unit P85 Rockville, MD.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 854‑square‑foot, one‑bedroom, one‑bathroom condominium; Ground‑level unit with balcony and 9‑foot ceilings; Garage space included with the residence
