Updated Residential Income
For Sale
$500,000
930 WAYNE AVENUE Unit 610, Silver Spring, MD 20910
Two-bedroom condominium with a private balcony, garage parking, and access to fitness and resident amenities.
Property Size1,227 SF
Price / SF$407.50
Days on Market21
Property Features for 930 WAYNE AVENUE Unit 610
General Information
Standard status
Active
Size
1,227 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$5,265
Building Details
Building Size
1,227 SF
Year Built
2006
Listing Agency:
TTR Sotheby's International Realty
(202) 423-8332
Listed By:
Mansour F Abu-Rahmeh
(202) 423-8332
Source:
Kerishull
Added: Aug 11
Changed: Aug 29
Last Checked: Aug 30 at 10:07PM
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 TTR Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 1,227-square-foot condominium at The Crescent combines an open living and dining arrangement with a renovated kitchen, center island, private balcony, and engineered bamboo flooring installed in 2023. The two-bedroom layout includes a primary suite with a walk-in closet and bathroom renovated in 2022, plus a second bedroom with its own walk-in closet. The property also includes one designated garage parking space.
Built in 2006, the building offers on-site management, pet-friendly policies, a fitness center, billiard room, and resident lounge. The condominium is located in Downtown Silver Spring near Whole Foods, Safeway, restaurants, cafes, entertainment, and the Silver Spring Metro. Additional updates include a primary bedroom HVAC replacement in May 2022, thermostat updates in June 2023, a new washer and dryer in 2022, and a dishwasher replaced in December 2025.
Built in 2006, the building offers on-site management, pet-friendly policies, a fitness center, billiard room, and resident lounge. The condominium is located in Downtown Silver Spring near Whole Foods, Safeway, restaurants, cafes, entertainment, and the Silver Spring Metro. Additional updates include a primary bedroom HVAC replacement in May 2022, thermostat updates in June 2023, a new washer and dryer in 2022, and a dishwasher replaced in December 2025.
Key Highlights
- 1,227‑square‑foot condominium at The Crescent
- Two‑bedroom layout with two walk‑in closets
- Kitchen renovated in 2023 with large center island
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
$20,259
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
4.05%
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%
$405,180
$405.2K
Cap Rate 7%
$289,414
$289.4K
Cap Rate 9%
$225,100
$225.1K
Market Conditions
NOI Build-Up for 1,227 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
$39.6K $32.28/SF
− Vacancy
−$2.8K −$2.26/SF
EGI
$36.8K $30.02/SF
− OpEx
−$16.6K −$13.51/SF
NOI
$20.3K $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%
$405,180
Cap Rate 7%
$289,414
Cap Rate 9%
$225,100
Alternative Uses
Best Use
Apartment 5plus
$289.4K
$253.2K – $337.7K
NOI $20,259 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$431.6K
$377.7K – $503.6K
NOI $30,214 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,220
Businesses Nearby
Explore this area
Business Placement
Demographics for 20910, MD
45,610
Population
23,209
Households
2
Avg Household Size
36
Median Age
74%
College-Educated
95%
High-School Grad
4.6 sq mi
ZIP Area
9,915
Density / Sq Mi
$107,994
Median Household Income
$70,022
Median Earnings
$1,992
Median Rent
$690,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with a private balcony, garage parking, and access to fitness and resident amenities.
Where is this residential income property located?
The property is located at 930 WAYNE AVENUE Unit 610 Silver Spring, MD.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1,227‑square‑foot condominium at The Crescent; Two‑bedroom layout with two walk‑in closets; Kitchen renovated in 2023 with large center island
