Garden-Level Residential Income
6602 LAKE PARK DRIVE Unit T-1, Greenbelt, MD 20770
For Sale
$269,900
The condo includes an updated kitchen, in-unit laundry, a den, and a screened patio.
Property Size1,248 SF
Price / SF$216.27
Days on Market166
Property Features for 6602 LAKE PARK DRIVE Unit T-1
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Public Transit
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
swimming pool
fitness center
clubhouse
walking and jogging trails
scenic lake views
updated kitchen
stainless steel appliances
in-unit washer and dryer
fireplace
screened-in patio
assigned parking
secure building entry
Building Details
Building Size
Year Built
Listing Agency:
Royal Dominion Realty
Listed By:
Aileen Cook · License #321199
(301) 674-8180
Source:
Districtpropertygroup
Added: May 28
Changed: Nov 8
Last Checked: Nov 8 at 2:42PM
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 Royal Dominion Realty
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Investment Insights
Based on property information with market context.
This 1,248-square-foot garden-level condo in a building constructed in 1998 has an open living area with a fireplace, an updated kitchen with granite countertops and stainless steel appliances, and an in-unit washer and dryer. A den or sunroom adds flexible interior space. The split-bedroom plan includes a primary suite with a walk-in closet and private bath with a soaking tub; a screened patio extends the living area outdoors. Assigned parking and secure building entry are also provided.
Residents have access to a pool, fitness center, clubhouse, walking and jogging trails, and lake views. The property is near Greenbelt Metro, the Baltimore-Washington Parkway, I-495, NASA, shopping, dining, and parks.
Residents have access to a pool, fitness center, clubhouse, walking and jogging trails, and lake views. The property is near Greenbelt Metro, the Baltimore-Washington Parkway, I-495, NASA, shopping, dining, and parks.
Key Highlights
- 1,248‑square‑foot condo built in 1998
- Garden‑level unit with split‑bedroom layout and den/sunroom
- Updated kitchen with granite countertops and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,801
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$336,020
$336.0K
Cap Rate 7%
$240,014
$240.0K
Cap Rate 9%
$186,678
$186.7K
Market Conditions
NOI Build-Up for 1,248 SF
Gross rent
$32.5K $26.04/SF
− Vacancy
−$1.9K −$1.56/SF
EGI
$30.5K $24.48/SF
− OpEx
−$13.7K −$11.01/SF
NOI
$16.8K $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%
$336,020
Cap Rate 7%
$240,014
Cap Rate 9%
$186,678
Alternative Uses
Best Use
Apartment 5plus
$240.0K
$210.0K – $280.0K
NOI $16,801 @ 7.0% cap · market cap 6.22%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$402.6K
$352.3K – $469.7K
NOI $28,182 @ 7.0% cap · market cap 10.44%
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
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 - The condo includes an updated kitchen, in-unit laundry, a den, and a screened patio.
Where is this residential income property located?
The property is located at 6602 LAKE PARK DRIVE Unit T-1 Greenbelt, MD.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 1,248‑square‑foot condo built in 1998; Garden‑level unit with split‑bedroom layout and den/sunroom; Updated kitchen with granite countertops and stainless steel appliances
