Residential Income
For Sale
$199,999
7716 HANOVER PARKWAY Unit 101, Greenbelt, MD 20770
The two-bedroom condominium includes an enclosed balcony and a private bedroom suite.
Property Size1,188 SF
Price / SF$168.35
Days on Market72
Property Features for 7716 HANOVER PARKWAY Unit 101
General Information
Standard status
Active
Size
1,188 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,708
Building Details
Building Size
1,188 SF
Year Built
1974
Listing Agency:
Tarver Realty Group
Listed By:
Michael S. Tarver · License #321309
(301) 440-2626
Source:
Dmvliving
Added: Aug 18
Changed: Oct 27
Last Checked: Oct 26 at 3:36PM
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 Tarver Realty Group
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Investment Insights
Based on property information with market context.
This 1,188-square-foot condominium was built in 1974 and is offered in as-is condition. The two-bedroom, two-bath layout includes a first-floor enclosed balcony, a bedroom with an en-suite bath, and a walk-in closet. The home is FHA approved, and condominium fees cover all utilities.
The property is in Greenbelt, Maryland, across from Eleanor Roosevelt High School. Shopping and dining are nearby, with access to major highways in the area.
The property is in Greenbelt, Maryland, across from Eleanor Roosevelt High School. Shopping and dining are nearby, with access to major highways in the area.
Key Highlights
- Two‑bedroom, two‑bath condominium with 1,188 square feet
- First‑floor enclosed balcony
- En‑suite bedroom includes a walk‑in closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,994
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,880
$319.9K
Cap Rate 7%
$228,486
$228.5K
Cap Rate 9%
$177,711
$177.7K
Market Conditions
NOI Build-Up for 1,188 SF
Gross rent
$30.9K $26.04/SF
− Vacancy
−$1.9K −$1.56/SF
EGI
$29.1K $24.48/SF
− OpEx
−$13.1K −$11.01/SF
NOI
$16.0K $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%
$319,880
Cap Rate 7%
$228,486
Cap Rate 9%
$177,711
Alternative Uses
Best Use
Apartment 5plus
$228.5K
$199.9K – $266.6K
NOI $15,994 @ 7.0% cap · market cap 8.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$383.2K
$335.3K – $447.1K
NOI $26,827 @ 7.0% cap · market cap 13.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,772
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 - The two-bedroom condominium includes an enclosed balcony and a private bedroom suite.
Where is this residential income property located?
The property is located at 7716 HANOVER PARKWAY Unit 101 Greenbelt, MD.
What is the asking price?
The asking price for this property is $199,999.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium with 1,188 square feet; First‑floor enclosed balcony; En‑suite bedroom includes a walk‑in closet
