Multifamily Property with Off-Street
New
For Sale
$1,450,000
517 MONTGOMERY STREET, Laurel, MD 20707
The building offers gas cooking appliances, a dishwasher, and laundry equipment.
Property Size7,881 SF
Price / SF$225.19
Days on Market4
Property Features for 517 MONTGOMERY STREET
General Information
Standard status
Active
Size
7,881 SF
Property subtype
Residential Income
Zoning
LAUR
Taxes and HOA fees
Annual Taxes
$21,566
Amenities
Window Unit(s), Electric
Natural Gas, Oil, Forced Air, Radiant
Exterior Entry, Crawl Space, Other
Gas Range, Gas Oven, Gas Water Heater, Dishwasher, Dryer, Refrigerator
Off Street, Gravel
Other
Building Details
Building Size
7,881 SF
Year Built
1945
Listed By:
Faith M Rosselle · License #MD4558
(301) 570-9300
Source:
Evrealestate
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 5 at 5:56PM
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 Faith M Rosselle
Investment Insights
Based on property information with market context.
This multifamily property contains 6,439 square feet and dates to 1945. Interior features include window-unit air conditioning and heating provided by natural gas, oil, forced air, and radiant systems. A gas range and oven, gas water heater, dishwasher, dryer, and refrigerator are also present.
Exterior parking is available off street on a gravel surface. The property is located on Montgomery Street in Laurel, Maryland; access directions reference Route 198 and 7th Street.
Exterior parking is available off street on a gravel surface. The property is located on Montgomery Street in Laurel, Maryland; access directions reference Route 198 and 7th Street.
Key Highlights
- 6,439‑square‑foot multifamily property
- Built in 1945
- Window‑unit air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,686
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,733,720
$1.7M
Cap Rate 7%
$1,238,371
$1.2M
Cap Rate 9%
$963,178
$963.2K
Market Conditions
NOI Build-Up for 6,439 SF
Gross rent
$167.7K $26.04/SF
− Vacancy
−$10.1K −$1.56/SF
EGI
$157.6K $24.48/SF
− OpEx
−$70.9K −$11.01/SF
NOI
$86.7K $13.46/SF
Area
Prince George's County, MD
Vacancy
6.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,733,720
Cap Rate 7%
$1,238,371
Cap Rate 9%
$963,178
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.08M – $1.44M
NOI $86,686 @ 7.0% cap · market cap 5.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.08M
$1.82M – $2.42M
NOI $145,404 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,331
Businesses Nearby
Explore this area
Business Placement
Demographics for 20707, MD
37,702
Population
15,146
Households
2.5
Avg Household Size
37
Median Age
45%
College-Educated
89%
High-School Grad
12.6 sq mi
ZIP Area
2,992
Density / Sq Mi
$104,093
Median Household Income
$58,633
Median Earnings
$1,880
Median Rent
$411,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - The building offers gas cooking appliances, a dishwasher, and laundry equipment.
Where is this multifamily property located?
The property is located at 517 MONTGOMERY STREET Laurel, MD.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 6,439‑square‑foot multifamily property; Built in 1945; Window‑unit air conditioning
