Condominium with Covered
For Sale
$195,000
6946 HANOVER PARKWAY Unit 201, Greenbelt, MD 20770
The two-bedroom residence includes assigned parking and access to community recreation amenities.
Property Size1,063 SF
Price / SF$183.44
Days on Market13
Property Features for 6946 HANOVER PARKWAY Unit 201
General Information
Standard status
Active
Size
1,063 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,956
Amenities
private covered balcony
shared green space
community swimming pool
fitness center
tennis courts
Building Details
Building Size
1,063 SF
Year Built
1974
Construction
traditional
Listing Agency:
Keller Williams Lucido Agency
Listed By:
Robert J Lucido · License #17628
(410) 465-6900
Source:
Dmvliving
Added: Oct 16
Changed: Oct 27
Last Checked: Oct 26 at 3:16PM
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 Keller Williams Lucido Agency
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Investment Insights
Based on property information with market context.
This 1,063-square-foot condominium has two bedrooms and two full bathrooms. The living room opens through sliding glass doors to a covered balcony overlooking shared green space with paths and benches. An adjoining dining area connects visually to the eat-in kitchen, which has stainless steel and white appliances, two-tone cabinetry, and counter space for dining or work. The primary bedroom includes a walk-in closet and private bathroom; the second bathroom is off the hallway.
Located in Hunting Ridge Condo Phase I, the residence dates to 1974. Parking includes an assigned reserved space and designated visitor spaces. Community amenities include a swimming pool, fitness center, and tennis courts.
Located in Hunting Ridge Condo Phase I, the residence dates to 1974. Parking includes an assigned reserved space and designated visitor spaces. Community amenities include a swimming pool, fitness center, and tennis courts.
Key Highlights
- 1,063 square feet with 2 bedrooms and 2 full bathrooms
- Covered balcony faces shared green space with paths and benches
- Primary bedroom has a walk‑in closet and private ensuite bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,311
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$286,220
$286.2K
Cap Rate 7%
$204,443
$204.4K
Cap Rate 9%
$159,011
$159.0K
Market Conditions
NOI Build-Up for 1,063 SF
Gross rent
$27.7K $26.04/SF
− Vacancy
−$1.7K −$1.56/SF
EGI
$26.0K $24.48/SF
− OpEx
−$11.7K −$11.01/SF
NOI
$14.3K $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%
$286,220
Cap Rate 7%
$204,443
Cap Rate 9%
$159,011
Alternative Uses
Best Use
Apartment 5plus
$204.4K
$178.9K – $238.5K
NOI $14,311 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$342.9K
$300.1K – $400.1K
NOI $24,004 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,570
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom residence includes assigned parking and access to community recreation amenities.
Where is this residential income property located?
The property is located at 6946 HANOVER PARKWAY Unit 201 Greenbelt, MD.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 1,063 square feet with 2 bedrooms and 2 full bathrooms; Covered balcony faces shared green space with paths and benches; Primary bedroom has a walk‑in closet and private ensuite bathroom
