Residential Income Property with Screened
For Sale
$239,500
6640 LAKE PARK DRIVE Unit 208, Greenbelt, MD 20770
Corner residence includes a private one-car garage, elevator access, and a flexible den with direct veranda access.
Property Size989 SF
Price / SF$242.16
Days on Market66
Property Features for 6640 LAKE PARK DRIVE Unit 208
General Information
Standard status
Active
Size
989 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$4,502
Building Details
Building Size
989 SF
Year Built
1997
Listing Agency:
Trademark Realty, Inc
Listed By:
Anthony D Law · License #23757
(240) 354-2303
Source:
Districtpropertygroup
Added: Aug 24
Changed: Oct 28
Last Checked: Oct 26 at 2:44PM
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 Trademark Realty, Inc
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Investment Insights
Based on property information with market context.
This corner residential unit features a screened veranda, a separate den, and a private one-car garage. Bamboo flooring extends through much of the home, while the upgraded kitchen has maple cabinetry, granite counters, stainless steel appliances, and a five-burner gas range. The bathroom includes a soaking tub and updated tile. The owner’s suite has double windows and a walk-in closet. The HVAC system and water heater have both been replaced. Built in 1997, the residence also has two access points and elevator service.
Community amenities include an exercise room, library, meeting areas, business office, secured entrance, walking trails, a lake, and a swimming pool with a covered pool house. The property is in Greenbelt, Maryland.
Community amenities include an exercise room, library, meeting areas, business office, secured entrance, walking trails, a lake, and a swimming pool with a covered pool house. The property is in Greenbelt, Maryland.
Key Highlights
- Corner unit with a screened veranda and direct access from the den
- Private one‑car garage and assigned parking space
- Upgraded kitchen with granite countertops and a five‑burner gas stove
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,315
Cap Rate
5.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$266,300
$266.3K
Cap Rate 7%
$190,214
$190.2K
Cap Rate 9%
$147,944
$147.9K
Market Conditions
NOI Build-Up for 989 SF
Gross rent
$25.8K $26.04/SF
− Vacancy
−$1.5K −$1.56/SF
EGI
$24.2K $24.48/SF
− OpEx
−$10.9K −$11.01/SF
NOI
$13.3K $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%
$266,300
Cap Rate 7%
$190,214
Cap Rate 9%
$147,944
Alternative Uses
Best Use
Apartment 5plus
$190.2K
$166.4K – $221.9K
NOI $13,315 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$319.0K
$279.2K – $372.2K
NOI $22,333 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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
Frequently Asked Questions
What type of property is this?
Residential income property - Corner residence includes a private one-car garage, elevator access, and a flexible den with direct veranda access.
Where is this residential income property located?
The property is located at 6640 LAKE PARK DRIVE Unit 208 Greenbelt, MD.
What is the asking price?
The asking price for this property is $239,500.
What are key features of this property?
This property features: Corner unit with a screened veranda and direct access from the den; Private one‑car garage and assigned parking space; Upgraded kitchen with granite countertops and a five‑burner gas stove
