Residential Income Property with
8 RUSSELL AVENUE Unit 311, Gaithersburg, MD 20877
For Sale
$289,900
The single-level condo includes in-unit laundry and access to a building lounge and exercise room.
Property Size1,440 SF
Days on Market39
Property Features for 8 RUSSELL AVENUE Unit 311
General Information
Standard status
Size
Elevators
Property subtype
Site & Location
Highway Access
Public Transit
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
lounge
exercise room
in-unit laundry
balcony
secured building
Building Details
Building Size
Year Built
Listing Agency:
Samson Properties
Listed By:
Steven A Moretti · License #594719
(240) 375-1763
Source:
Thehulsmangroup
Added: Oct 1
Changed: Nov 1
Last Checked: Nov 6 at 5:13PM
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 Samson Properties
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Investment Insights
Based on property information with market context.
This residential income property is a single-level condominium with a foyer, living and family room, dining area, kitchen, two bedrooms described inconsistently in the source, and two full bathrooms. The living room and middle bedroom provide access to a rear balcony. The unit also has a walk-in closet with built-ins, an in-unit washer and dryer, and a separate laundry room with room for shelving. Recent improvements include fresh paint, LVP flooring, a hot water heater, and updated appliances.
The secured building has elevators, a second-floor lounge, and a fourth-floor exercise room. The property is near Gaithersburg MARC Station, Old Town shops and restaurants, Constitution Gardens, Bohrer Park, Rock Creek Regional Park, Griffith Park, and routes 355, 27, and I-270. The building was constructed in 1988.
The secured building has elevators, a second-floor lounge, and a fourth-floor exercise room. The property is near Gaithersburg MARC Station, Old Town shops and restaurants, Constitution Gardens, Bohrer Park, Rock Creek Regional Park, Griffith Park, and routes 355, 27, and I-270. The building was constructed in 1988.
Key Highlights
- Single‑level condo with two full bathrooms; bedroom count is inconsistent in the source
- Rear balcony accessible from the living room and middle bedroom
- In‑unit washer and dryer, walk‑in closet with built‑ins, and separate laundry room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,776
Cap Rate
8.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$475,520
$475.5K
Cap Rate 7%
$339,657
$339.7K
Cap Rate 9%
$264,178
$264.2K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$46.5K $32.28/SF
− Vacancy
−$3.3K −$2.26/SF
EGI
$43.2K $30.02/SF
− OpEx
−$19.5K −$13.51/SF
NOI
$23.8K $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%
$475,520
Cap Rate 7%
$339,657
Cap Rate 9%
$264,178
Alternative Uses
Best Use
Apartment 5plus
$339.7K
$297.2K – $396.3K
NOI $23,776 @ 7.0% cap · market cap 8.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$506.6K
$443.2K – $591.0K
NOI $35,459 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,842
Businesses Nearby
Explore this area
Business Placement
Demographics for 20877, MD
37,577
Population
13,599
Households
2.8
Avg Household Size
36
Median Age
35%
College-Educated
76%
High-School Grad
5.6 sq mi
ZIP Area
6,710
Density / Sq Mi
$86,103
Median Household Income
$39,341
Median Earnings
$1,862
Median Rent
$462,500
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Montgomery County, MD
Properties on Market for Residential income properties in Montgomery County
Frequently Asked Questions
What type of property is this?
Residential income property - The single-level condo includes in-unit laundry and access to a building lounge and exercise room.
Where is this residential income property located?
The property is located at 8 RUSSELL AVENUE Unit 311 Gaithersburg, MD.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Single‑level condo with two full bathrooms; bedroom count is inconsistent in the source; Rear balcony accessible from the living room and middle bedroom; In‑unit washer and dryer, walk‑in closet with built‑ins, and separate laundry room
