Two-Level Residential Income
New
For Sale
$695,000
8101 CONNECTICUT AVENUE Unit S-610, Chevy Chase, MD 20815
Updated condominium residence with private balconies, storage units, and dedicated parking.
Property Size1,546 SF
Days on Market6
Property Features for 8101 CONNECTICUT AVENUE Unit S-610
General Information
Standard status
Active
Size
1,546 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,099
Amenities
private balcony
updated kitchen
updated appliances
walk-in closet
ensuite bath
upper level laundry
storage units
Building Details
Building Size
1,546 SF
Year Built
1982
Listing Agency:
Washington Fine Properties
Listed By:
Alyssa A Crilley · License #594463
(301) 325-0079
Source:
Barnesrealestatecompany
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 13 at 12:34PM
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 two-level condominium residence at 8101 Connecticut Avenue in Chevy Chase offers a separated living arrangement with updated interiors and multiple outdoor spaces. The main floor includes a living room, dining area, private balcony, and renovated kitchen with updated appliances. Upstairs, the primary suite features a walk-in closet, renovated ensuite bath, and balcony access, while the second bedroom also includes an ensuite bath and access to a balcony. Upper-level laundry adds functional convenience.
The property includes two private balconies, two storage units, and one parking space. Built in 1982, the residence combines a multi-level layout with condominium ownership and dedicated accessory spaces. The address is 8101 Connecticut Avenue, Unit S-610, Chevy Chase, Maryland 20815.
The property includes two private balconies, two storage units, and one parking space. Built in 1982, the residence combines a multi-level layout with condominium ownership and dedicated accessory spaces. The address is 8101 Connecticut Avenue, Unit S-610, Chevy Chase, Maryland 20815.
Key Highlights
- Two‑level condominium residence with 2 bedrooms and 2.5 baths
- Two private balconies, including access from the dining area and both bedrooms
- Renovated kitchen with updated appliances
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
$25,526
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
3.67%
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%
$510,520
$510.5K
Cap Rate 7%
$364,657
$364.7K
Cap Rate 9%
$283,622
$283.6K
Market Conditions
NOI Build-Up for 1,546 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
$49.9K $32.28/SF
− Vacancy
−$3.5K −$2.26/SF
EGI
$46.4K $30.02/SF
− OpEx
−$20.9K −$13.51/SF
NOI
$25.5K $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 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%
$510,520
Cap Rate 7%
$364,657
Cap Rate 9%
$283,622
Alternative Uses
Best Use
Apartment 5plus
$364.7K
$319.1K – $425.4K
NOI $25,526 @ 7.0% cap · market cap 3.67%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$543.8K
$475.9K – $634.5K
NOI $38,069 @ 7.0% cap · market cap 5.48%
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 private balconies, storage units, and dedicated parking.
Where is this residential income property located?
The property is located at 8101 CONNECTICUT AVENUE Unit S-610 Chevy Chase, MD.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Two‑level condominium residence with 2 bedrooms and 2.5 baths; Two private balconies, including access from the dining area and both bedrooms; Renovated kitchen with updated appliances
