Two-Bedroom Condominium
For Sale
$420,000
5802 NICHOLSON LANE Unit 2-201, Rockville, MD 20852
The unit includes south- and west-facing views, a private balcony, and tandem garage parking.
Property Size1,110 SF
Price / SF$378.38
Days on Market45
Property Features for 5802 NICHOLSON LANE Unit 2-201
General Information
Standard status
Active
Size
1,110 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,422
Amenities
outdoor pool
tennis court
exercise room
gated community
Building Details
Building Size
1,110 SF
Year Built
1985
Listing Agency:
Jack Realty Group
Listed By:
John Pruski
(202) 213-4744
Source:
Jackrealtygroup
Added: Sep 15
Changed: Oct 26
Last Checked: Oct 26 at 10:33AM
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 Jack Realty Group
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Investment Insights
Based on property information with market context.
This 1,215-square-foot condominium residence has two bedrooms and two bathrooms, with an open living and dining area and an electric fireplace flanked by built-in cabinetry. The kitchen has upgraded cabinets and countertops, plus a separate table area. The primary bedroom includes an en-suite bathroom, walk-in closet, and built-in storage; the second bedroom has a double-door closet. In-unit features also include a front-loading washer and dryer, window treatments, and a balcony with a utility closet. A separate caged storage space is located in the building basement.
The residence faces south and west. Building amenities include an outdoor pool, tennis court, and exercise room, within a gated community. Two assigned, separately deeded tandem parking spaces are provided in the basement garage. North Bethesda Metro and public bus service are accessible from the property.
The residence faces south and west. Building amenities include an outdoor pool, tennis court, and exercise room, within a gated community. Two assigned, separately deeded tandem parking spaces are provided in the basement garage. North Bethesda Metro and public bus service are accessible from the property.
Key Highlights
- 1,215‑square‑foot residence with 2 bedrooms and 2 bathrooms
- South- and west‑facing views and a private balcony
- Assigned, separately deeded tandem parking for 2 cars in the basement garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,327
Cap Rate
4.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,540
$366.5K
Cap Rate 7%
$261,814
$261.8K
Cap Rate 9%
$203,633
$203.6K
Market Conditions
NOI Build-Up for 1,110 SF
Gross rent
$35.8K $32.28/SF
− Vacancy
−$2.5K −$2.26/SF
EGI
$33.3K $30.02/SF
− OpEx
−$15.0K −$13.51/SF
NOI
$18.3K $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%
$366,540
Cap Rate 7%
$261,814
Cap Rate 9%
$203,633
Alternative Uses
Best Use
Apartment 5plus
$261.8K
$229.1K – $305.5K
NOI $18,327 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$390.5K
$341.7K – $455.6K
NOI $27,333 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,189
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - The unit includes south- and west-facing views, a private balcony, and tandem garage parking.
Where is this residential income property located?
The property is located at 5802 NICHOLSON LANE Unit 2-201 Rockville, MD.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 1,215‑square‑foot residence with 2 bedrooms and 2 bathrooms; South- and west‑facing views and a private balcony; Assigned, separately deeded tandem parking for 2 cars in the basement garage
