Residential Income Property with
For Sale
$190,000
8308 FLOWER AVENUE Unit 203, Takoma Park, MD 20912
A one-bedroom residence in an elevator building includes assigned parking and a tiled outdoor balcony.
Property Size887 SF
Price / SF$214.21
Days on Market62
Property Features for 8308 FLOWER AVENUE Unit 203
General Information
Standard status
Active
Size
887 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Units
Multifamily Units
1
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$3,124
Building Details
Building Size
887 SF
Year Built
1935
Listing Agency:
Jack Realty Group
Listed By:
John Pruski · License #BR98377715
(202) 213-4744
Source:
Jackrealtygroup
Added: Aug 30
Changed: Oct 27
Last Checked: Oct 26 at 2:10PM
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 Jack Realty Group
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Investment Insights
Based on property information with market context.
Unit 203 is an 887-square-foot, one-bedroom condominium in a building constructed in 1935. Its updated kitchen has generous counter space and a pass-through to the living room, while a separate dining area connects with the living space. A sliding glass door opens onto a tiled balcony, and the bedroom has a walk-in closet. The building is equipped with an elevator, and the unit includes assigned parking.
Key Highlights
- 887‑square‑foot, one‑bedroom condominium
- Built in 1935
- Tiled balcony accessed through a sliding glass door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,645
Cap Rate
7.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$292,900
$292.9K
Cap Rate 7%
$209,214
$209.2K
Cap Rate 9%
$162,722
$162.7K
Market Conditions
NOI Build-Up for 887 SF
Gross rent
$28.6K $32.28/SF
− Vacancy
−$2.0K −$2.26/SF
EGI
$26.6K $30.02/SF
− OpEx
−$12.0K −$13.51/SF
NOI
$14.6K $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%
$292,900
Cap Rate 7%
$209,214
Cap Rate 9%
$162,722
Alternative Uses
Best Use
Apartment 5plus
$209.2K
$183.1K – $244.1K
NOI $14,645 @ 7.0% cap · market cap 7.71%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$312.0K
$273.0K – $364.0K
NOI $21,842 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,012
Businesses Nearby
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Business Placement
Demographics for 20912, MD
25,463
Population
10,140
Households
2.5
Avg Household Size
38
Median Age
51%
College-Educated
86%
High-School Grad
2.7 sq mi
ZIP Area
9,431
Density / Sq Mi
$82,097
Median Household Income
$48,447
Median Earnings
$1,452
Median Rent
$671,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A one-bedroom residence in an elevator building includes assigned parking and a tiled outdoor balcony.
Where is this residential income property located?
The property is located at 8308 FLOWER AVENUE Unit 203 Takoma Park, MD.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: 887‑square‑foot, one‑bedroom condominium; Built in 1935; Tiled balcony accessed through a sliding glass door
