Updated Residential Income
6600 LAKE PARK DRIVE Unit 204, Greenbelt, MD 20770
For Sale
$285,000
A two-bedroom, two-bathroom condo includes a flex room, screened balcony, and in-unit laundry.
Property Size1,230 SF
Price / SF$231.71
Days on Market107
Property Features for 6600 LAKE PARK DRIVE Unit 204
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Road Access
Public Transit
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
pool
fitness center
clubhouse
in-unit washer/dryer
guest parking
direct park access
Building Details
Building Size
Year Built
Listing Agency:
Compass
Listed By:
Navneet Anand Singh
(301) 728-7138
Source:
Dmvliving
Added: Jul 24
Changed: Oct 27
Last Checked: Nov 7 at 7:44AM
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 Compass
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Investment Insights
Based on property information with market context.
This 1,230-square-foot condominium, built in 1998, has two bedrooms, two bathrooms, and a flex room. Recent interior work includes fresh paint, new carpet, and LVP flooring in the entry and kitchen. The kitchen has quartz counters and updated appliances. The primary suite offers a walk-in closet and French doors to a screened balcony; both bathrooms include bidets. An in-unit washer and dryer, updated furnace, and high-efficiency water heater are also in place.
The secure building has a pool, fitness center, clubhouse, and guest parking. Residents have direct access to Schrom Hills Park. NASA Goddard, the University of Maryland, College Park, Greenbelt and New Carrollton Metro stations, I-295, and I-495 are among the nearby destinations and routes.
The secure building has a pool, fitness center, clubhouse, and guest parking. Residents have direct access to Schrom Hills Park. NASA Goddard, the University of Maryland, College Park, Greenbelt and New Carrollton Metro stations, I-295, and I-495 are among the nearby destinations and routes.
Key Highlights
- 1,230‑square‑foot condo with 2 bedrooms, 2 bathrooms, and a flex room
- Screened balcony accessed from the primary suite through French doors
- Quartz kitchen counters, updated appliances, and LVP flooring in the entry and kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,559
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$331,180
$331.2K
Cap Rate 7%
$236,557
$236.6K
Cap Rate 9%
$183,989
$184.0K
Market Conditions
NOI Build-Up for 1,230 SF
Gross rent
$32.0K $26.04/SF
− Vacancy
−$1.9K −$1.56/SF
EGI
$30.1K $24.48/SF
− OpEx
−$13.5K −$11.01/SF
NOI
$16.6K $13.46/SF
Area
Prince George's County, MD
Vacancy
6.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$331,180
Cap Rate 7%
$236,557
Cap Rate 9%
$183,989
Alternative Uses
Best Use
Apartment 5plus
$236.6K
$207.0K – $276.0K
NOI $16,559 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$396.8K
$347.2K – $462.9K
NOI $27,775 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,019
Businesses Nearby
Explore this area
Business Placement
Demographics for 20770, MD
28,612
Population
12,736
Households
2.2
Avg Household Size
35
Median Age
43%
College-Educated
90%
High-School Grad
7.3 sq mi
ZIP Area
3,919
Density / Sq Mi
$84,125
Median Household Income
$48,773
Median Earnings
$1,823
Median Rent
$249,400
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Prince George's County, MD
Properties on Market for Residential income properties in Prince George's County
Frequently Asked Questions
What type of property is this?
Residential income property - A two-bedroom, two-bathroom condo includes a flex room, screened balcony, and in-unit laundry.
Where is this residential income property located?
The property is located at 6600 LAKE PARK DRIVE Unit 204 Greenbelt, MD.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 1,230‑square‑foot condo with 2 bedrooms, 2 bathrooms, and a flex room; Screened balcony accessed from the primary suite through French doors; Quartz kitchen counters, updated appliances, and LVP flooring in the entry and kitchen
