Updated Residential Income
For Sale
$510,000
5717 BREWER HOUSE CIRCLE Unit 202, North Bethesda, MD 20852
End-unit residence with two bedrooms, a den, renovated baths, and community recreational amenities.
Property Size1,181 SF
Price / SF$431.84
Days on Market103
Property Features for 5717 BREWER HOUSE CIRCLE Unit 202
General Information
Standard status
Active
Size
1,181 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,098
Amenities
walking/biking trails
pool
clubhouse
tot lot
tennis courts
in-unit washer and dryer
woodburning fireplace
Building Details
Building Size
1,181 SF
Year Built
1986
Listing Agency:
Long & Foster Real Estate, Inc.
(202) 262-2274
Listed By:
James Beckley · License #648294
(202) 262-2274
Source:
Kerishull
Added: May 21
Changed: Aug 29
Last Checked: Aug 29 at 10:57AM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 1,181-square-foot end-unit residential income property, built in 1986, offers a two-bedroom, two-bath layout with an additional den. Recent improvements include hardwood flooring in the main living spaces, new bedroom carpeting, granite kitchen counters, stainless steel appliances, updated bathrooms with custom tile, a heat pump, and a water heater. The floor plan also includes a living and dining area, sunroom, wood-burning fireplace, primary suite with organized walk-in closet, in-unit laundry, and an assigned parking space.
The property is in North Bethesda, within walking distance of the Grosvenor Metro and Bethesda Trolley. Community amenities include walking and biking trails, a pool, clubhouse, tot lot, and tennis courts. Water utilities are included in the condo fee.
The property is in North Bethesda, within walking distance of the Grosvenor Metro and Bethesda Trolley. Community amenities include walking and biking trails, a pool, clubhouse, tot lot, and tennis courts. Water utilities are included in the condo fee.
Key Highlights
- 1,181 SF end‑unit condo built in 1986
- Two bedrooms, two baths, and a den
- Updated kitchen with granite counters and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,500
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$390,000
$390.0K
Cap Rate 7%
$278,571
$278.6K
Cap Rate 9%
$216,667
$216.7K
Market Conditions
NOI Build-Up for 1,181 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$38.1K $32.28/SF
− Vacancy
−$2.7K −$2.26/SF
EGI
$35.5K $30.02/SF
− OpEx
−$16.0K −$13.51/SF
NOI
$19.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$390,000
Cap Rate 7%
$278,571
Cap Rate 9%
$216,667
Alternative Uses
Best Use
Apartment 5plus
$278.6K
$243.8K – $325.0K
NOI $19,500 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$415.4K
$363.5K – $484.7K
NOI $29,081 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
893
Businesses Nearby
Explore this area
Business Placement
Demographics for 20852, MD
48,347
Population
23,023
Households
2.1
Avg Household Size
38
Median Age
74%
College-Educated
94%
High-School Grad
8.1 sq mi
ZIP Area
5,969
Density / Sq Mi
$121,496
Median Household Income
$74,519
Median Earnings
$2,212
Median Rent
$646,100
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - End-unit residence with two bedrooms, a den, renovated baths, and community recreational amenities.
Where is this residential income property located?
The property is located at 5717 BREWER HOUSE CIRCLE Unit 202 North Bethesda, MD.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: 1,181 SF end‑unit condo built in 1986; Two bedrooms, two baths, and a den; Updated kitchen with granite counters and stainless steel appliances
