Residential Income Condo with
New
For Sale
$279,000
862 COLLEGE PKWY #202, Rockville, MD 20850
ROCKVILLE, MD
Property Size1,000 SF
Price / SF$279
Days on Market5
Property Features for 862 COLLEGE PKWY #202
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 2, Bedroom 1
Subdivision
PLYMOUTH GARDENS
Elementary school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
Middle school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
High school district
MONTGOMERY COUNTY PUBLIC SCHOOLS
Standard status
Active
Amenities
private balcony
assigned storage bin
free washers and dryers
community parking
community pool
Building Details
Year built
1967
Listing Agency:
Severna Park
(410) 544-4000
Listed By:
Ruth A McGovern
Added: Oct 17
Last Checked: Oct 21 at 4:06PM
MLS# MDMC2257100
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This top-floor residential condo offers approximately 1,000 square feet, with two bedrooms, 1.5 baths, and a separate den. The living and dining areas provide shared gathering space, while the den adds a distinct flex room. The primary bedroom has a walk-in closet and half bath; the second bedroom has a double closet. A private balcony faces trees and greenery, and an assigned storage bin is included. Free washers and dryers are located on the ground floor, and community parking is available. The 1967 building also has a community pool, landscaped grounds, and open green areas.
The property is in Rockville, with Rockville Metro, Rockville Town Center, I-270, Route 355, shops, restaurants, parks, schools, and daily essentials described as minutes away. The condo fee includes gas, heat, water, sewer, and trash. Verizon Fios and Comcast are available, and pets are welcome.
The property is in Rockville, with Rockville Metro, Rockville Town Center, I-270, Route 355, shops, restaurants, parks, schools, and daily essentials described as minutes away. The condo fee includes gas, heat, water, sewer, and trash. Verizon Fios and Comcast are available, and pets are welcome.
Key Highlights
- Top‑floor condo with approximately 1,000 square feet
- Two bedrooms, 1.5 baths, and a separate den
- Private balcony overlooking trees and greenery
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,511
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$330,220
$330.2K
Cap Rate 7%
$235,871
$235.9K
Cap Rate 9%
$183,456
$183.5K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$32.3K $32.28/SF
− Vacancy
−$2.3K −$2.26/SF
EGI
$30.0K $30.02/SF
− OpEx
−$13.5K −$13.51/SF
NOI
$16.5K $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%
$330,220
Cap Rate 7%
$235,871
Cap Rate 9%
$183,456
Alternative Uses
Best Use
Apartment 5plus
$235.9K
$206.4K – $275.2K
NOI $16,511 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$351.8K
$307.8K – $410.4K
NOI $24,624 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
883
Businesses Nearby
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Business Placement
Demographics for 20850, MD
51,045
Population
22,468
Households
2.3
Avg Household Size
41
Median Age
67%
College-Educated
94%
High-School Grad
14.1 sq mi
ZIP Area
3,620
Density / Sq Mi
$122,691
Median Household Income
$77,679
Median Earnings
$2,277
Median Rent
$687,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The top-floor residence includes two bedrooms, a separate den, and a private balcony overlooking trees and greenery.
Where is this residential income property located?
The property is located at 862 COLLEGE PKWY #202 Rockville, MD.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Top‑floor condo with approximately 1,000 square feet; Two bedrooms, 1.5 baths, and a separate den; Private balcony overlooking trees and greenery
