Three-Bedroom
For Sale
$293,300
8725 GRASMERE COURT, Fort Washington, MD 20744
The residence has distinct living and dining areas, washer and dryer hookups, and convenient parking.
Property Size1,579 SF
Price / SF$185.75
Days on Market10
Property Features for 8725 GRASMERE COURT
General Information
Standard status
Active
Size
1,579 SF
Property subtype
Unit/Flat/Apartment
Property Condition
Severity
Repairs Needed
Evidence
fair condition
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,392
Building Details
Building Size
1,579 SF
Year Built
1988
Listing Agency:
Compass
Listed By:
District Property Group
(202) 286-1658
Source:
Districtpropertygroup
Added: Oct 19
Changed: Oct 27
Last Checked: Oct 27 at 4:10AM
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
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Investment Insights
Based on property information with market context.
This 1,579-square-foot condominium in the Devon Hills community has three bedrooms and two full bathrooms, with separate living and dining areas. Built in 1988, it is in fair condition and is being sold as-is through a probate sale. Washer and dryer hookups are present; the stove/range, refrigerator, washer, and dryer are not included. Some utility and mechanical components appear to have been updated, though their age, condition, and operation require verification.
The property offers access to National Harbor, including its waterfront, dining, retail, entertainment, MGM National Harbor, and the Capital Wheel. Nearby recreation includes Fort Washington Park, Fort Foote Park, Tucker Road Ice Rink, parks, trails, playgrounds, athletic courts, and community recreation facilities. MD-210 and I-495/I-95 provide regional connections, with Alexandria and Washington, D.C., also identified as nearby destinations.
The property offers access to National Harbor, including its waterfront, dining, retail, entertainment, MGM National Harbor, and the Capital Wheel. Nearby recreation includes Fort Washington Park, Fort Foote Park, Tucker Road Ice Rink, parks, trails, playgrounds, athletic courts, and community recreation facilities. MD-210 and I-495/I-95 provide regional connections, with Alexandria and Washington, D.C., also identified as nearby destinations.
Key Highlights
- 1,579‑square‑foot condominium with 3 bedrooms and 2 full bathrooms
- Built in 1988; property is in fair condition and offered as‑is through a probate sale
- Separate living and dining areas, washer and dryer hookups, and parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,258
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,160
$425.2K
Cap Rate 7%
$303,686
$303.7K
Cap Rate 9%
$236,200
$236.2K
Market Conditions
NOI Build-Up for 1,579 SF
Gross rent
$41.1K $26.04/SF
− Vacancy
−$2.5K −$1.56/SF
EGI
$38.7K $24.48/SF
− OpEx
−$17.4K −$11.01/SF
NOI
$21.3K $13.46/SF
Area
Prince George's County, MD
Vacancy
6.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,160
Cap Rate 7%
$303,686
Cap Rate 9%
$236,200
Alternative Uses
Best Use
Apartment 5plus
$303.7K
$265.7K – $354.3K
NOI $21,258 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$509.4K
$445.7K – $594.3K
NOI $35,657 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
200
Businesses Nearby
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Business Placement
Demographics for 20744, MD
52,747
Population
21,014
Households
2.5
Avg Household Size
44
Median Age
36%
College-Educated
90%
High-School Grad
26.1 sq mi
ZIP Area
2,021
Density / Sq Mi
$124,838
Median Household Income
$57,168
Median Earnings
$1,751
Median Rent
$418,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The residence has distinct living and dining areas, washer and dryer hookups, and convenient parking.
Where is this residential income property located?
The property is located at 8725 GRASMERE COURT Fort Washington, MD.
What is the asking price?
The asking price for this property is $293,300.
What are key features of this property?
This property features: 1,579‑square‑foot condominium with 3 bedrooms and 2 full bathrooms; Built in 1988; property is in fair condition and offered as‑is through a probate sale; Separate living and dining areas, washer and dryer hookups, and parking
