Two-Level Residential Income
For Sale
$679,900
510 DIAMONDBACK DRIVE Unit 461, Gaithersburg, MD 20878
Modern condominium with open living space, a private balcony, loft, garage parking, and dedicated storage.
Property Size1,294 SF
Days on Market32
Property Features for 510 DIAMONDBACK DRIVE Unit 461
General Information
Standard status
Active
Size
1,294 SF
Total Parking Spaces
1
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,627
Amenities
private balcony
dedicated storage unit
Building Details
Building Size
1,294 SF
Year Built
2019
Listing Agency:
Compass
Listed By:
Peter J Ferguson · License #654669
(847) 903-1030
Source:
Barnesrealestatecompany
Added: Sep 4
Changed: Oct 3
Last Checked: Oct 4 at 4:10PM
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
Investment Insights
Based on property information with market context.
This two-level condominium, built in 2019, offers an open-concept main level with two-story ceilings, expansive windows, and a kitchen featuring a quartz island, stainless steel appliances, and extensive cabinetry. The living and dining areas connect directly to the kitchen, while an upper loft overlooks the main living space and can serve as an office, reading area, or workout space. The residence includes two bedrooms, two full bathrooms, one garage parking space, and a dedicated storage unit.
A private balcony faces Diamondback Drive and open green space. The home is positioned within Crown, with walking access to Starbucks, Harris Teeter, Coastal Flats, Ted’s Bulletin, LA Fitness, shops, parks, and community events. Connectivity extends to Rio, I-270, and the ICC.
A private balcony faces Diamondback Drive and open green space. The home is positioned within Crown, with walking access to Starbucks, Harris Teeter, Coastal Flats, Ted’s Bulletin, LA Fitness, shops, parks, and community events. Connectivity extends to Rio, I-270, and the ICC.
Key Highlights
- Two‑level condominium built in 2019
- Two‑story ceilings and expansive windows
- Quartz kitchen island with stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,366
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$427,320
$427.3K
Cap Rate 7%
$305,229
$305.2K
Cap Rate 9%
$237,400
$237.4K
Market Conditions
NOI Build-Up for 1,294 SF
Gross rent
$41.8K $32.28/SF
− Vacancy
−$2.9K −$2.26/SF
EGI
$38.8K $30.02/SF
− OpEx
−$17.5K −$13.51/SF
NOI
$21.4K $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%
$427,320
Cap Rate 7%
$305,229
Cap Rate 9%
$237,400
Alternative Uses
Best Use
Apartment 5plus
$305.2K
$267.1K – $356.1K
NOI $21,366 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$455.2K
$398.3K – $531.1K
NOI $31,864 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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 - Modern condominium with open living space, a private balcony, loft, garage parking, and dedicated storage.
Where is this residential income property located?
The property is located at 510 DIAMONDBACK DRIVE Unit 461 Gaithersburg, MD.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: Two‑level condominium built in 2019; Two‑story ceilings and expansive windows; Quartz kitchen island with stainless steel appliances
