Corner Residential Income
For Sale
$829,000
8101 CONNECTICUT AVENUE Unit N-304, Chevy Chase, MD 20815
Updated kitchen, separate dining room, two bedrooms, den or office, and two full bathrooms.
Property Size1,880 SF
Price / SF$440.96
Days on Market91
Property Features for 8101 CONNECTICUT AVENUE Unit N-304
General Information
Standard status
Active
Size
1,880 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
2BR/2BA + den
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$8,927
Amenities
water fountains
24-hour reception desk
in-unit washer/dryer
balcony
storage bin
Building Details
Building Size
1,880 SF
Year Built
1982
Listing Agency:
Compass
(301) 204-0808
Listed By:
Benjamin R Puchalski · License #585083
(301) 204-0808
Source:
Barnesrealestatecompany
Added: Jun 1
Changed: Aug 30
Last Checked: Aug 30 at 12:05PM
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 Compass
Investment Insights
Based on property information with market context.
This corner condominium residence offers 1,880 square feet with 9-foot ceilings, expansive windows, and a 17-foot private balcony overlooking a tree canopy and creek. The interior includes a separate dining room, updated kitchen, living area, two bedrooms, a flexible third room suitable for a den or home office, and two full bathrooms with a soaking tub and walk-in shower. An in-unit washer and dryer, two garage parking spaces, and a large storage bin add practical convenience.
The building provides 24-hour reception service and welcomes pets. The property is located on Connecticut Avenue in Chevy Chase, near the Beltway, the D.C. line, and downtown Bethesda. Constructed in 1982, the condominium combines established building infrastructure with a spacious residential layout and private outdoor space.
The building provides 24-hour reception service and welcomes pets. The property is located on Connecticut Avenue in Chevy Chase, near the Beltway, the D.C. line, and downtown Bethesda. Constructed in 1982, the condominium combines established building infrastructure with a spacious residential layout and private outdoor space.
Key Highlights
- 1,880‑square‑foot corner condominium residence
- 17‑foot private balcony overlooking a tree canopy and creek
- Two bedrooms plus a third room for a den or home office
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
$31,041
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
3.74%
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%
$620,820
$620.8K
Cap Rate 7%
$443,443
$443.4K
Cap Rate 9%
$344,900
$344.9K
Market Conditions
NOI Build-Up for 1,880 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
$60.7K $32.28/SF
− Vacancy
−$4.2K −$2.26/SF
EGI
$56.4K $30.02/SF
− OpEx
−$25.4K −$13.51/SF
NOI
$31.0K $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%
$620,820
Cap Rate 7%
$443,443
Cap Rate 9%
$344,900
Alternative Uses
Best Use
Apartment 5plus
$443.4K
$388.0K – $517.4K
NOI $31,041 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$661.3K
$578.7K – $771.6K
NOI $46,294 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
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 kitchen, separate dining room, two bedrooms, den or office, and two full bathrooms.
Where is this residential income property located?
The property is located at 8101 CONNECTICUT AVENUE Unit N-304 Chevy Chase, MD.
What is the asking price?
The asking price for this property is $829,000.
What are key features of this property?
This property features: 1,880‑square‑foot corner condominium residence; 17‑foot private balcony overlooking a tree canopy and creek; Two bedrooms plus a third room for a den or home office
