Two-Bedroom Residential Income
For Sale
$254,900
7561 SPRING LAKE DRIVE Unit B2, Bethesda, MD 20817
A refreshed, single-level home offers two private outdoor spaces and access to shared community amenities.
Property Size922 SF
Price / SF$276.46
Days on Market114
Property Features for 7561 SPRING LAKE DRIVE Unit B2
General Information
Standard status
Active
Size
922 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,781
Amenities
community pool
picinic areas
grills
playground
community garden
pet-friendly walking trails
private storage unit
on-site laundry
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: Jul 7
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 residence was built in 1960 and features a single-level floor plan. Recent updates include the kitchen cabinetry, electrical panel, lighting, and fresh interior paint. Floor-to-ceiling windows bring natural light into the living area, which connects to a dedicated dining space. Luxury vinyl plank flooring runs through the main living areas, while both bedrooms have newer carpet and large closets. Two private outdoor areas include a front patio and a rear porch. A private storage unit and on-site laundry are also included, with unassigned parking available.
Community amenities include a pool, picnic areas with grills, a playground, a community garden, and walking trails that connect to 500-acre Cabin John Regional Park. Montgomery Mall, Wildwood’s shops and restaurants, I-270, and I-495 are all nearby. The condo fee covers gas, water, HVAC, and common-area upkeep. On-site management serves the pet-friendly community.
Community amenities include a pool, picnic areas with grills, a playground, a community garden, and walking trails that connect to 500-acre Cabin John Regional Park. Montgomery Mall, Wildwood’s shops and restaurants, I-270, and I-495 are all nearby. The condo fee covers gas, water, HVAC, and common-area upkeep. On-site management serves the pet-friendly community.
Key Highlights
- Two‑bedroom, single‑level residence with 922 square feet
- Kitchen cabinetry and electrical panel updated; interior freshly painted
- Two private outdoor spaces: a front patio and a rear porch
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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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,083
Businesses Nearby
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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 - A refreshed, single-level home offers two private outdoor spaces and access to shared community amenities.
Where is this residential income property located?
The property is located at 7561 SPRING LAKE DRIVE Unit B2 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: Two‑bedroom, single‑level residence with 922 square feet; Kitchen cabinetry and electrical panel updated; interior freshly painted; Two private outdoor spaces: a front patio and a rear porch
