Two-Bedroom Condominium
5802 NICHOLSON LANE Unit 1203, Rockville, MD 20852
For Sale
$650,000
Residents can use an outdoor pool, tennis court and exercise room within the gated Fallswood community.
Property Size1,215 SF
Price / SF$534.98
Days on Market68
Property Features for 5802 NICHOLSON LANE Unit 1203
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
outdoor pool
tennis court
exercise room
gated community
private balcony
Building Details
Building Size
Year Built
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Cindy D Souza · License MD #510987
(301) 332-5032
Source:
Evansgroupdmv
Added: Sep 8
Changed: Nov 11
Last Checked: Nov 13 at 8:31AM
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.
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Investment Insights
Based on property information with market context.
This 1,215-square-foot condominium at Fallswood Condominium has two bedrooms and two bathrooms. The living and dining areas share an open layout, with an electric fireplace and built-in cabinetry. The kitchen has upgraded cabinets and countertops, plus space for a casual dining table. The primary bedroom includes an en-suite bath, a walk-in closet and built-in storage; the second bedroom has a double-door closet. A private balcony, in-unit laundry closet, balcony utility closet and separate basement storage cage round out the unit. Built in 1985, the residence also includes window treatments.
The gated community has an outdoor pool, tennis court and exercise room. Assigned parking is in the basement garage, and access to North Bethesda Metro and public buses is noted. The balcony and both bedrooms face south and west, with panoramic views.
The gated community has an outdoor pool, tennis court and exercise room. Assigned parking is in the basement garage, and access to North Bethesda Metro and public buses is noted. The balcony and both bedrooms face south and west, with panoramic views.
Key Highlights
- 1,215‑square‑foot residence with 2 bedrooms and 2 bathrooms
- South- and west‑facing panoramic views from the unit
- Private balcony with a utility closet and additional storage room
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.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,189
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
$646,100
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Montgomery County, MD
Properties on Market for Residential income properties in Montgomery County
Frequently Asked Questions
What type of property is this?
Residential income property - Residents can use an outdoor pool, tennis court and exercise room within the gated Fallswood community.
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‑square‑foot residence with 2 bedrooms and 2 bathrooms; South- and west‑facing panoramic views from the unit; Private balcony with a utility closet and additional storage room
