Renovated Two-Bedroom
For Sale
$655,000
8101 CONNECTICUT AVENUE Unit C505, Chevy Chase, MD 20815
Updated condominium residence with a private balcony, storage, and hardwood floors.
Property Size1,531 SF
Price / SF$427.82
Days on Market89
Property Features for 8101 CONNECTICUT AVENUE Unit C505
General Information
Standard status
Active
Size
1,531 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,041
Amenities
in-unit washer and dryer
private balcony
Building Details
Building Size
1,531 SF
Year Built
1982
Listing Agency:
Washington Fine Properties
(301) 325-0079
Listed By:
Alyssa A Crilley · License #594463
(301) 325-0079
Source:
Barnesrealestatecompany
Added: Jun 4
Changed: Aug 31
Last Checked: Aug 31 at 1:12AM
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 Washington Fine Properties
Investment Insights
Based on property information with market context.
This renovated condominium residence offers approximately 1,531 square feet with two bedrooms, two full bathrooms, and a functional separation between living and sleeping areas. The entry opens toward the living and dining rooms, while the dining area connects with both the private balcony and the kitchen. Kitchen improvements include expanded storage, a countertop eating area, and stainless steel appliances. The primary bedroom includes a dressing room, renovated ensuite bathroom with a walk-in shower, and a large walk-in closet. A second bedroom provides additional flexibility, while in-unit laundry, two hall closets, a separate pantry, and hardwood floors throughout add practical utility.
The unit includes two parking spaces and storage. Located at 8101 Connecticut Avenue in Chevy Chase, the condominium was built in 1982 and has views of surrounding trees.
The unit includes two parking spaces and storage. Located at 8101 Connecticut Avenue in Chevy Chase, the condominium was built in 1982 and has views of surrounding trees.
Key Highlights
- Approximately 1,531 square feet with two bedrooms and two full baths
- Renovated kitchen with stainless steel appliances, storage, and countertop eating area
- Primary suite includes dressing room, ensuite bath with walk‑in shower, and large walk‑in closet
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
$25,279
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
3.86%
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%
$505,580
$505.6K
Cap Rate 7%
$361,129
$361.1K
Cap Rate 9%
$280,878
$280.9K
Market Conditions
NOI Build-Up for 1,531 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
$49.4K $32.28/SF
− Vacancy
−$3.5K −$2.26/SF
EGI
$46.0K $30.02/SF
− OpEx
−$20.7K −$13.51/SF
NOI
$25.3K $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 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%
$505,580
Cap Rate 7%
$361,129
Cap Rate 9%
$280,878
Alternative Uses
Best Use
Apartment 5plus
$361.1K
$316.0K – $421.3K
NOI $25,279 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$538.6K
$471.3K – $628.3K
NOI $37,700 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 20815, MD
31,517
Population
14,192
Households
2.2
Avg Household Size
46
Median Age
85%
College-Educated
98%
High-School Grad
5.4 sq mi
ZIP Area
5,836
Density / Sq Mi
$198,243
Median Household Income
$106,711
Median Earnings
$2,408
Median Rent
$1,230,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium residence with a private balcony, storage, and hardwood floors.
Where is this residential income property located?
The property is located at 8101 CONNECTICUT AVENUE Unit C505 Chevy Chase, MD.
What is the asking price?
The asking price for this property is $655,000.
What are key features of this property?
This property features: Approximately 1,531 square feet with two bedrooms and two full baths; Renovated kitchen with stainless steel appliances, storage, and countertop eating area; Primary suite includes dressing room, ensuite bath with walk‑in shower, and large walk‑in closet
