Updated Residential Income
For Sale
$319,000
7923 EASTERN AVENUE Unit 404, Silver Spring, MD 20910
The two-bedroom layout includes two full bathrooms, an en-suite primary bedroom, and an in-unit washer and dryer.
Property Size1,025 SF
Price / SF$311.22
Days on Market69
Property Features for 7923 EASTERN AVENUE Unit 404
General Information
Standard status
Active
Size
1,025 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,189
Amenities
fitness center
party room
outdoor garden
in-unit washer and dryer
Building Details
Building Size
1,025 SF
Year Built
1965
Listing Agency:
Weichert, REALTORS
Listed By:
Richard D Winkler · License #655574
(301) 404-3105
Source:
Exqrealestate
Added: Aug 22
Changed: Oct 27
Last Checked: Oct 26 at 3:40PM
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 Weichert, REALTORS
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Investment Insights
Based on property information with market context.
This 1,025-square-foot condominium in Aurora North has two bedrooms and two full bathrooms. The kitchen features granite countertops and stainless-steel appliances, while engineered hardwood flooring runs throughout. A combined living and dining area provides the main gathering space. The primary bedroom includes an en-suite bathroom and walk-in closet; the second bedroom is near the other full bathroom. A stacked washer and dryer is located in the unit. The building dates to 1965.
Community amenities include a fitness center, party room, and outdoor garden. Shopping, restaurants, and everyday services are nearby, as are the Silver Spring Metro and major commuter routes connecting to Washington, D.C., and surrounding areas.
Community amenities include a fitness center, party room, and outdoor garden. Shopping, restaurants, and everyday services are nearby, as are the Silver Spring Metro and major commuter routes connecting to Washington, D.C., and surrounding areas.
Key Highlights
- 1,025‑square‑foot condominium with two bedrooms and two full bathrooms
- Kitchen with granite countertops and stainless‑steel appliances
- Engineered hardwood flooring throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,924
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$338,480
$338.5K
Cap Rate 7%
$241,771
$241.8K
Cap Rate 9%
$188,044
$188.0K
Market Conditions
NOI Build-Up for 1,025 SF
Gross rent
$33.1K $32.28/SF
− Vacancy
−$2.3K −$2.26/SF
EGI
$30.8K $30.02/SF
− OpEx
−$13.8K −$13.51/SF
NOI
$16.9K $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%
$338,480
Cap Rate 7%
$241,771
Cap Rate 9%
$188,044
Alternative Uses
Best Use
Apartment 5plus
$241.8K
$211.6K – $282.1K
NOI $16,924 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$360.6K
$315.5K – $420.7K
NOI $25,240 @ 7.0% cap · market cap 7.91%
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
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 two-bedroom layout includes two full bathrooms, an en-suite primary bedroom, and an in-unit washer and dryer.
Where is this residential income property located?
The property is located at 7923 EASTERN AVENUE Unit 404 Silver Spring, MD.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: 1,025‑square‑foot condominium with two bedrooms and two full bathrooms; Kitchen with granite countertops and stainless‑steel appliances; Engineered hardwood flooring throughout
