One-Bedroom Residential
For Sale
$154,000
6998 HANOVER PARKWAY Unit 203, Greenbelt, MD 20770
Updated kitchen cabinetry and flooring complement a recently serviced HVAC system.
Property Size750 SF
Price / SF$205.33
Days on Market27
Property Features for 6998 HANOVER PARKWAY Unit 203
General Information
Standard status
Active
Size
750 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,226
Amenities
community pool
recreational center
gym
Building Details
Building Size
750 SF
Year Built
1974
Listing Agency:
Compass
Listed By:
District Property Group
(202) 286-1658
Source:
Districtpropertygroup
Added: Oct 2
Changed: Oct 27
Last Checked: Oct 27 at 4:06AM
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 Compass
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Investment Insights
Based on property information with market context.
This 750-square-foot condominium has one bedroom and one bathroom. Fresh paint, recently replaced carpet, and updated kitchen and foyer flooring are among the interior improvements. The kitchen also has updated cabinetry and a dishwasher replaced in 2026. The HVAC system was recently serviced, and the building dates to 1974.
The condo fee covers all utilities and provides access to a community pool, recreational center, and gym. The property is in Greenbelt, with access to routes 295 and the Beltway for commuting, as well as nearby restaurants and shopping.
The condo fee covers all utilities and provides access to a community pool, recreational center, and gym. The property is in Greenbelt, with access to routes 295 and the Beltway for commuting, as well as nearby restaurants and shopping.
Key Highlights
- One bedroom and one bathroom in 750 square feet
- Kitchen cabinetry updated; dishwasher replaced in 2026
- Fresh paint, recently replaced carpet, and updated kitchen and foyer flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,097
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$201,940
$201.9K
Cap Rate 7%
$144,243
$144.2K
Cap Rate 9%
$112,189
$112.2K
Market Conditions
NOI Build-Up for 750 SF
Gross rent
$19.5K $26.04/SF
− Vacancy
−$1.2K −$1.56/SF
EGI
$18.4K $24.48/SF
− OpEx
−$8.3K −$11.01/SF
NOI
$10.1K $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%
$201,940
Cap Rate 7%
$144,243
Cap Rate 9%
$112,189
Alternative Uses
Best Use
Apartment 5plus
$144.2K
$126.2K – $168.3K
NOI $10,097 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$241.9K
$211.7K – $282.3K
NOI $16,936 @ 7.0% cap · market cap 11.00%
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
1,271
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 - Updated kitchen cabinetry and flooring complement a recently serviced HVAC system.
Where is this residential income property located?
The property is located at 6998 HANOVER PARKWAY Unit 203 Greenbelt, MD.
What is the asking price?
The asking price for this property is $154,000.
What are key features of this property?
This property features: One bedroom and one bathroom in 750 square feet; Kitchen cabinetry updated; dishwasher replaced in 2026; Fresh paint, recently replaced carpet, and updated kitchen and foyer flooring
