Refreshed Residential Income
For Sale
$170,000
8005 MANDAN RD #302, Greenbelt, MD 20770
GREENBELT, MD
Property Size1,050 SF
Price / SF$161.90
Days on Market253
Property Features for 8005 MANDAN RD #302
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1
Subdivision
GREENBRIAR CONDO
Elementary school
GREENBELT
Middle school
GREENBELT
High school
ELEANOR ROOSEVELT
Elementary school district
PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Middle school district
PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
High school district
PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Standard status
Active
Amenities
assigned parking
outdoor pool
tennis courts
Building Details
Year built
1977
Listing Agency:
Crofton Bowie
(410) 721-1500
Listed By:
Maria D Lopes
(202) 547-9200
Added: Jan 14
Changed: Sep 24
Last Checked: Sep 24 at 6:06PM
MLS# MDPG2185124
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,050-square-foot condominium was built in 1977 and refreshed with 2026 improvements, including new paint, carpet, and a renovated bathroom. The floor plan includes a bedroom and a versatile den with full-sized windows and a large closet. Utilities are included in the condo fee, and the community provides assigned parking, an outdoor pool, and tennis courts.
The property is in Greenbelt, Maryland, with access to I-95, I-495, and Rt 295. Greenbelt Metro, NASA Goddard, UMD, BWI, DCA, Roosevelt Center, local shops, dining, parks, and trails are all identified as nearby. The community is FHA-approved, and a 3-year home warranty is available with a full-price offer.
The property is in Greenbelt, Maryland, with access to I-95, I-495, and Rt 295. Greenbelt Metro, NASA Goddard, UMD, BWI, DCA, Roosevelt Center, local shops, dining, parks, and trails are all identified as nearby. The community is FHA-approved, and a 3-year home warranty is available with a full-price offer.
Key Highlights
- 1,050 sq ft condominium with a bedroom and flexible den
- 2026 updates include fresh paint, new carpet, and a renovated bathroom
- Utilities included in the condo fee
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,136
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$282,720
$282.7K
Cap Rate 7%
$201,943
$201.9K
Cap Rate 9%
$157,067
$157.1K
Market Conditions
NOI Build-Up for 1,050 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.3K $26.04/SF
− Vacancy
−$1.6K −$1.56/SF
EGI
$25.7K $24.48/SF
− OpEx
−$11.6K −$11.01/SF
NOI
$14.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$282,720
Cap Rate 7%
$201,943
Cap Rate 9%
$157,067
Alternative Uses
Best Use
Apartment 5plus
$201.9K
$176.7K – $235.6K
NOI $14,136 @ 7.0% cap · market cap 8.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$338.7K
$296.4K – $395.2K
NOI $23,711 @ 7.0% cap · market cap 13.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
289
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Spacious condo with a flexible den, renovated bath, included utilities, and community recreation amenities.
Where is this residential income property located?
The property is located at 8005 MANDAN RD #302 Greenbelt, MD.
What is the asking price?
The asking price for this property is $170,000.
What are key features of this property?
This property features: 1,050 sq ft condominium with a bedroom and flexible den; 2026 updates include fresh paint, new carpet, and a renovated bathroom; Utilities included in the condo fee
