Residential Income Property with
For Sale
$650,000
5802 NICHOLSON LANE Unit 1203, Rockville, MD 20852
Two-bedroom condominium residence with open living areas, upgraded kitchen finishes, and panoramic south- and west-facing views.
Property Size1,215 SF
Price / SF$534.98
Days on Market34
Property Features for 5802 NICHOLSON LANE Unit 1203
General Information
Standard status
Active
Size
1,215 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Units
Multifamily Units
1
Parking per Unit
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,152
Amenities
outdoor pool
tennis court
exercise room
secure gated environment
private balcony
laundry closet
electric fireplace
caged storage unit
Building Details
Building Size
1,215 SF
Year Built
1985
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Cindy D Souza · License #510987
(301) 332-5032
Source:
Kerishull
Added: Sep 8
Changed: Oct 11
Last Checked: Oct 10 at 2:55AM
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 1,215-square-foot residential income property is a two-bedroom, two-bath condominium residence in a high-rise building constructed in 1985. Its interior includes an open arrangement connecting the living and dining areas, an electric fireplace with surrounding built-in cabinetry, and a kitchen with upgraded cabinets, countertops, and a dedicated table area. The primary suite includes a private bath, walk-in closet, and built-in storage, while the second bedroom has a double-door closet and broad views. A laundry closet with a front-loading washer and dryer is also included.
A private balcony adds outdoor space and includes a utility closet with additional storage. The property also conveys a separate caged storage unit in the basement and two assigned, separately deeded tandem parking spaces in the basement garage. Community amenities include an outdoor pool, tennis court, exercise room, and gated access, with access to North Bethesda Metro and public buses.
A private balcony adds outdoor space and includes a utility closet with additional storage. The property also conveys a separate caged storage unit in the basement and two assigned, separately deeded tandem parking spaces in the basement garage. Community amenities include an outdoor pool, tennis court, exercise room, and gated access, with access to North Bethesda Metro and public buses.
Key Highlights
- 1,215 SF two‑bedroom, two‑bath condominium residence
- South- and west‑facing panoramic views
- Private balcony with utility closet and extra storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,061
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$401,220
$401.2K
Cap Rate 7%
$286,586
$286.6K
Cap Rate 9%
$222,900
$222.9K
Market Conditions
NOI Build-Up for 1,215 SF
Gross rent
$39.2K $32.28/SF
− Vacancy
−$2.7K −$2.26/SF
EGI
$36.5K $30.02/SF
− OpEx
−$16.4K −$13.51/SF
NOI
$20.1K $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%
$401,220
Cap Rate 7%
$286,586
Cap Rate 9%
$222,900
Alternative Uses
Best Use
Apartment 5plus
$286.6K
$250.8K – $334.4K
NOI $20,061 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$427.4K
$374.0K – $498.7K
NOI $29,919 @ 7.0% cap · market cap 4.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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 - Two-bedroom condominium residence with open living areas, upgraded kitchen finishes, and panoramic south- and west-facing views.
Where is this residential income property located?
The property is located at 5802 NICHOLSON LANE Unit 1203 Rockville, MD.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1,215 SF two‑bedroom, two‑bath condominium residence; South- and west‑facing panoramic views; Private balcony with utility closet and extra storage
