One-Bedroom Co-op
649 AZALEA DRIVE Unit 3, Rockville, MD 20850
For Sale
$197,000
The co-op fee includes property taxes, gas, water, sewer, snow and trash service, and major system maintenance.
Property Size850 SF
Price / SF$231.76
Days on Market87
Property Features for 649 AZALEA DRIVE Unit 3
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
parks
walking trails
tennis courts
basketball courts
community pool
Building Details
Building Size
Year Built
Listing Agency:
RE/MAX Realty Services
Listed By:
Andrew A Werner Jr. · License #28493
(301) 252-4770
Source:
Signaturemoverealestate
Added: Aug 14
Changed: Nov 1
Last Checked: Nov 7 at 10:06AM
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 RE/MAX Realty Services
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Investment Insights
Based on property information with market context.
This 850-square-foot, one-bedroom co-op has a separate dining area and a lower-level bonus room measuring 360 square feet. The interior includes refinished hardwood floors, ceiling fans with wall controls, and LED lighting. The kitchen is equipped with a four-burner gas range, a newer range hood, traditional cabinetry, a tile backsplash, and updated appliances. A double closet and ceiling fan are in the bedroom; the living room faces the backyard. The building dates to 1962.
Woodley Gardens includes parks, walking trails, tennis and basketball courts, and a community pool. Rockville Town Center, Metro, Montgomery College, I-270, and the ICC are described as minutes away. The co-op fee covers property taxes, gas, water, sewer, snow and trash service, and major system maintenance. Pets are permitted in the community.
Woodley Gardens includes parks, walking trails, tennis and basketball courts, and a community pool. Rockville Town Center, Metro, Montgomery College, I-270, and the ICC are described as minutes away. The co-op fee covers property taxes, gas, water, sewer, snow and trash service, and major system maintenance. Pets are permitted in the community.
Key Highlights
- 850‑square‑foot one‑bedroom co‑op with a separate 360‑square‑foot lower‑level room
- Refinished hardwood floors, wall‑controlled ceiling fans, and LED lighting
- Kitchen has a four‑burner gas range, updated appliances, and tile backsplash
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,035
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$280,700
$280.7K
Cap Rate 7%
$200,500
$200.5K
Cap Rate 9%
$155,944
$155.9K
Market Conditions
NOI Build-Up for 850 SF
Gross rent
$27.4K $32.28/SF
− Vacancy
−$1.9K −$2.26/SF
EGI
$25.5K $30.02/SF
− OpEx
−$11.5K −$13.51/SF
NOI
$14.0K $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%
$280,700
Cap Rate 7%
$200,500
Cap Rate 9%
$155,944
Alternative Uses
Best Use
Apartment 5plus
$200.5K
$175.4K – $233.9K
NOI $14,035 @ 7.0% cap · market cap 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$299.0K
$261.6K – $348.9K
NOI $20,931 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
755
Businesses Nearby
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Business Placement
Demographics for 20850, MD
51,045
Population
22,468
Households
2.3
Avg Household Size
41
Median Age
67%
College-Educated
94%
High-School Grad
14.1 sq mi
ZIP Area
3,620
Density / Sq Mi
$122,691
Median Household Income
$77,679
Median Earnings
$2,277
Median Rent
$687,200
Median Home Value
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Market
Average Price Trend$/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 - The co-op fee includes property taxes, gas, water, sewer, snow and trash service, and major system maintenance.
Where is this residential income property located?
The property is located at 649 AZALEA DRIVE Unit 3 Rockville, MD.
What is the asking price?
The asking price for this property is $197,000.
What are key features of this property?
This property features: 850‑square‑foot one‑bedroom co‑op with a separate 360‑square‑foot lower‑level room; Refinished hardwood floors, wall‑controlled ceiling fans, and LED lighting; Kitchen has a four‑burner gas range, updated appliances, and tile backsplash
