Residential Income Condo with Garage
For Sale
$499,900
Pending
502 DIAMONDBACK DRIVE Unit 310, Gaithersburg, MD 20878
Open-plan residence with in-unit laundry and direct access to Downtown Crown amenities.
Property Size1,032 SF
Days on Market134
Property Features for 502 DIAMONDBACK DRIVE Unit 310
General Information
Standard status
Pending
Size
1,032 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,935
Amenities
in-unit washer and dryer
Building Details
Building Size
1,032 SF
Year Built
2019
Listing Agency:
Compass
Listed By:
Peter J Ferguson · License #654669
(847) 903-1030
Source:
Kerishull
Added: Jun 10
Changed: Oct 17
Last Checked: Oct 21 at 4:27AM
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.
This 2019-built residential income condominium at 502 Diamondback Drive, Unit 310, offers 1,032 square feet with two bedrooms and two bathrooms. The interior combines an open arrangement for living and dining with a connected kitchen, natural light, finished interiors, and an in-unit washer and dryer. A garage parking space is included.
The property is situated in Downtown Crown, with restaurants, coffee shops, grocery shopping, retail, gyms, and entertainment nearby. Regional connectivity includes I-270, the ICC, Rio, and other major commuter routes.
The property is situated in Downtown Crown, with restaurants, coffee shops, grocery shopping, retail, gyms, and entertainment nearby. Regional connectivity includes I-270, the ICC, Rio, and other major commuter routes.
Key Highlights
- Two‑bedroom, two‑bath condominium with 1,032 square feet
- Built in 2019
- Open kitchen, living, and dining arrangement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,040
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$340,800
$340.8K
Cap Rate 7%
$243,429
$243.4K
Cap Rate 9%
$189,333
$189.3K
Market Conditions
NOI Build-Up for 1,032 SF
Gross rent
$33.3K $32.28/SF
− Vacancy
−$2.3K −$2.26/SF
EGI
$31.0K $30.02/SF
− OpEx
−$13.9K −$13.51/SF
NOI
$17.0K $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%
$340,800
Cap Rate 7%
$243,429
Cap Rate 9%
$189,333
Alternative Uses
Best Use
Apartment 5plus
$243.4K
$213.0K – $284.0K
NOI $17,040 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$363.0K
$317.7K – $423.5K
NOI $25,412 @ 7.0% cap · market cap 5.08%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
504
Businesses Nearby
Explore this area
Business Placement
Demographics for 20878, MD
65,990
Population
25,297
Households
2.6
Avg Household Size
40
Median Age
70%
College-Educated
96%
High-School Grad
20.4 sq mi
ZIP Area
3,235
Density / Sq Mi
$142,062
Median Household Income
$76,026
Median Earnings
$2,188
Median Rent
$675,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Open-plan residence with in-unit laundry and direct access to Downtown Crown amenities.
Where is this residential income property located?
The property is located at 502 DIAMONDBACK DRIVE Unit 310 Gaithersburg, MD.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium with 1,032 square feet; Built in 2019; Open kitchen, living, and dining arrangement
