Residential Income
For Sale
$190,000
7940 LAKECREST DRIVE Unit 7940, Greenbelt, MD 20770
The 788-square-foot residence includes a private covered patio and reserved parking nearby.
Property Size788 SF
Price / SF$241.12
Days on Market41
Property Features for 7940 LAKECREST DRIVE Unit 7940
General Information
Standard status
Active
Size
788 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,071
Amenities
covered patio
in-unit washer/dryer
reserved parking
Building Details
Building Size
788 SF
Year Built
1964
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Sep 18
Changed: Oct 27
Last Checked: Oct 26 at 3:48PM
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 788-square-foot Greenbelt condo has a separate living room and dining area, one bedroom, and a full bathroom. LVP flooring spans the main living and dining spaces, while the bedroom has wall-to-wall carpeting and two closets. The kitchen includes white cabinetry, open shelving, a gas range, refrigerator, and dishwasher. A washer-dryer combo is located in a separate laundry room, and sliding glass doors lead to a covered patio.
Reserved parking is located near the residence. Built in 1964, the condo also features a tub-and-shower combination and a mirrored medicine cabinet in the bathroom.
Reserved parking is located near the residence. Built in 1964, the condo also features a tub-and-shower combination and a mirrored medicine cabinet in the bathroom.
Key Highlights
- 788‑square‑foot condo in Greenbelt
- Covered patio accessed from the living room
- Reserved parking located nearby
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,609
Cap Rate
5.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$212,180
$212.2K
Cap Rate 7%
$151,557
$151.6K
Cap Rate 9%
$117,878
$117.9K
Market Conditions
NOI Build-Up for 788 SF
Gross rent
$20.5K $26.04/SF
− Vacancy
−$1.2K −$1.56/SF
EGI
$19.3K $24.48/SF
− OpEx
−$8.7K −$11.01/SF
NOI
$10.6K $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%
$212,180
Cap Rate 7%
$151,557
Cap Rate 9%
$117,878
Alternative Uses
Best Use
Apartment 5plus
$151.6K
$132.6K – $176.8K
NOI $10,609 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$254.2K
$222.4K – $296.6K
NOI $17,794 @ 7.0% cap · market cap 9.37%
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
1,290
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - The 788-square-foot residence includes a private covered patio and reserved parking nearby.
Where is this residential income property located?
The property is located at 7940 LAKECREST DRIVE Unit 7940 Greenbelt, MD.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: 788‑square‑foot condo in Greenbelt; Covered patio accessed from the living room; Reserved parking located nearby
