Residential Income Property with Elevator
For Sale
$275,000
8045 NEWELL STREET Unit 309, Silver Spring, MD 20910
The 2005-built unit has an open living area, a kitchen island, and a walk-in closet.
Property Size820 SF
Price / SF$335.37
Days on Market188
Property Features for 8045 NEWELL STREET Unit 309
General Information
Standard status
Active
Size
820 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,416
Amenities
fitness center
social room
on-site management
Building Details
Building Size
820 SF
Year Built
2005
Listing Agency:
HomeSmart
Listed By:
Roland F St Paul · License #636348
(301) 704-3804
Source:
Jackrealtygroup
Added: Apr 24
Changed: Oct 27
Last Checked: Oct 26 at 3:37PM
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 HomeSmart
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Investment Insights
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This 820-square-foot residential unit contains one bedroom and one bathroom, with an open arrangement connecting the kitchen to the living and dining areas. A center island and cabinetry provide kitchen storage, while the bedroom includes a walk-in closet and an attached bathroom. The unit is on the third level of a building completed in 2005, with elevator access.
Community amenities include a fitness center, social room, and on-site management. The property is in downtown Silver Spring, near Metro, Whole Foods, restaurants, and retail. A pet-friendly community is also noted.
Community amenities include a fitness center, social room, and on-site management. The property is in downtown Silver Spring, near Metro, Whole Foods, restaurants, and retail. A pet-friendly community is also noted.
Key Highlights
- 820‑square‑foot unit with one bedroom and one bathroom
- Third‑level location with elevator access
- Open living, dining, and kitchen layout with center island
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,539
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,780
$270.8K
Cap Rate 7%
$193,414
$193.4K
Cap Rate 9%
$150,433
$150.4K
Market Conditions
NOI Build-Up for 820 SF
Gross rent
$26.5K $32.28/SF
− Vacancy
−$1.9K −$2.26/SF
EGI
$24.6K $30.02/SF
− OpEx
−$11.1K −$13.51/SF
NOI
$13.5K $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%
$270,780
Cap Rate 7%
$193,414
Cap Rate 9%
$150,433
Alternative Uses
Best Use
Apartment 5plus
$193.4K
$169.2K – $225.7K
NOI $13,539 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$288.5K
$252.4K – $336.5K
NOI $20,192 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,366
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 2005-built unit has an open living area, a kitchen island, and a walk-in closet.
Where is this residential income property located?
The property is located at 8045 NEWELL STREET Unit 309 Silver Spring, MD.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 820‑square‑foot unit with one bedroom and one bathroom; Third‑level location with elevator access; Open living, dining, and kitchen layout with center island
