Residential Property with
For Sale
$254,900
7559 SPRING LAKE DRIVE Unit D2, Bethesda, MD 20817
The two-bedroom residence has dual balconies, including a private outdoor space off the primary bedroom.
Property Size922 SF
Price / SF$276.46
Days on Market80
Property Features for 7559 SPRING LAKE DRIVE Unit D2
General Information
Standard status
Active
Size
922 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Asking Price
$254,900
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,127
Amenities
balcony
breakfast bar
outdoor pool
walking trails
playground
private storage
on-site laundry
picnic and grilling area
on-site management
parking
Building Details
Building Size
922 SF
Year Built
1960
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Aug 10
Changed: Oct 27
Last Checked: Oct 26 at 3:37PM
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 Jack Realty Group
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Investment Insights
Based on property information with market context.
This 922-square-foot, two-bedroom condo was built in 1960 and features open living and dining areas, large windows, and an open kitchen with a breakfast bar. Two balconies provide outdoor space, with one connected to the primary bedroom and facing wooded views. Private storage is also included, and the residence is being sold as-is; inspections are welcome.
Residents have access to an outdoor pool, walking trails, a playground, on-site laundry, picnic and grilling areas, and on-site management. The property is near Cabin John Regional Park, Westfield Montgomery Mall, and Cabin John Village. NIH, Walter Reed, Downtown Bethesda, Rockville, and Washington, DC are also identified nearby, with access to I-270 and I-495.
Residents have access to an outdoor pool, walking trails, a playground, on-site laundry, picnic and grilling areas, and on-site management. The property is near Cabin John Regional Park, Westfield Montgomery Mall, and Cabin John Village. NIH, Walter Reed, Downtown Bethesda, Rockville, and Washington, DC are also identified nearby, with access to I-270 and I-495.
Key Highlights
- 922‑square‑foot, two‑bedroom condo
- Two balconies, including one off the primary bedroom with wooded views
- Community features include a pool, walking trails, playground, and picnic and grilling area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,223
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$304,460
$304.5K
Cap Rate 7%
$217,471
$217.5K
Cap Rate 9%
$169,144
$169.1K
Market Conditions
NOI Build-Up for 922 SF
Gross rent
$29.8K $32.28/SF
− Vacancy
−$2.1K −$2.26/SF
EGI
$27.7K $30.02/SF
− OpEx
−$12.5K −$13.51/SF
NOI
$15.2K $16.51/SF
Area
Montgomery County, MD
Vacancy
7.00%
Lease Rate
$32.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$304,460
Cap Rate 7%
$217,471
Cap Rate 9%
$169,144
Alternative Uses
Best Use
Apartment 5plus
$217.5K
$190.3K – $253.7K
NOI $15,223 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$324.3K
$283.8K – $378.4K
NOI $22,704 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,083
Businesses Nearby
Explore this area
Business Placement
Demographics for 20817, MD
38,908
Population
14,363
Households
2.7
Avg Household Size
44
Median Age
85%
College-Educated
98%
High-School Grad
14.0 sq mi
ZIP Area
2,779
Density / Sq Mi
$240,104
Median Household Income
$121,313
Median Earnings
$3,155
Median Rent
$1,142,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom residence has dual balconies, including a private outdoor space off the primary bedroom.
Where is this residential income property located?
The property is located at 7559 SPRING LAKE DRIVE Unit D2 Bethesda, MD.
What is the asking price?
The asking price for this property is $254,900.
What are key features of this property?
This property features: 922‑square‑foot, two‑bedroom condo; Two balconies, including one off the primary bedroom with wooded views; Community features include a pool, walking trails, playground, and picnic and grilling area
