Residential Income
For Sale
$330,000
7923 EASTERN AVENUE Unit 303, Silver Spring, MD 20910
The unit offers hardwood flooring, an open kitchen and family room, and in-unit laundry.
Property Size1,004 SF
Price / SF$328.69
Days on Market51
Property Features for 7923 EASTERN AVENUE Unit 303
General Information
Standard status
Active
Size
1,004 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,042
Amenities
gym
party room
playground
in-unit washer/dryer
Building Details
Building Size
1,004 SF
Year Built
1965
Listing Agency:
Donna Kerr Group
Listed By:
Donna Kerr · License #517121
(301) 325-2253
Source:
Canopy-re
Added: Sep 8
Changed: Oct 27
Last Checked: Oct 26 at 11:26AM
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 Donna Kerr Group
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Investment Insights
Based on property information with market context.
This 1,025-square-foot condo, built in 1965, has hardwood floors throughout and an open kitchen and family room. The kitchen includes granite countertops and stainless steel appliances. A primary suite with a walk-in closet and dual-vanity bathroom, along with an in-unit washer and dryer, completes the unit.
Silver Spring Metro and Transit Center are less than a mile away, with shopping, dining, and entertainment nearby. Rock Creek Park is about a mile from the property. The complex has a gym, party room, and playground; nearby parking garages offer monthly options.
Silver Spring Metro and Transit Center are less than a mile away, with shopping, dining, and entertainment nearby. Rock Creek Park is about a mile from the property. The complex has a gym, party room, and playground; nearby parking garages offer monthly options.
Key Highlights
- 1,025‑square‑foot condo
- Built in 1965
- Hardwood flooring throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,577
Cap Rate
5.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$331,540
$331.5K
Cap Rate 7%
$236,814
$236.8K
Cap Rate 9%
$184,189
$184.2K
Market Conditions
NOI Build-Up for 1,004 SF
Gross rent
$32.4K $32.28/SF
− Vacancy
−$2.3K −$2.26/SF
EGI
$30.1K $30.02/SF
− OpEx
−$13.6K −$13.51/SF
NOI
$16.6K $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%
$331,540
Cap Rate 7%
$236,814
Cap Rate 9%
$184,189
Alternative Uses
Best Use
Apartment 5plus
$236.8K
$207.2K – $276.3K
NOI $16,577 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$353.2K
$309.0K – $412.1K
NOI $24,723 @ 7.0% cap · market cap 7.49%
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
3,515
Businesses Nearby
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Business Placement
Demographics for 20910, MD
45,610
Population
23,209
Households
2
Avg Household Size
36
Median Age
74%
College-Educated
95%
High-School Grad
4.6 sq mi
ZIP Area
9,915
Density / Sq Mi
$107,994
Median Household Income
$70,022
Median Earnings
$1,992
Median Rent
$690,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The unit offers hardwood flooring, an open kitchen and family room, and in-unit laundry.
Where is this residential income property located?
The property is located at 7923 EASTERN AVENUE Unit 303 Silver Spring, MD.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 1,025‑square‑foot condo; Built in 1965; Hardwood flooring throughout
