Renovated Two-Bedroom
9816 LAKE POINTE COURT Unit 302, Upper Marlboro, MD 20774
For Sale
$300,000
A spiral staircase links the living areas, with a fireplace anchoring the main room.
Property Size1,174 SF
Price / SF$255.54
Days on Market83
Property Features for 9816 LAKE POINTE COURT Unit 302
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
fireplace
in-unit washer/dryer hookups
Building Details
Building Size
Year Built
Year Renovated
Listing Agency:
Washington Area Properties, LLC
Listed By:
Randolph B Perrin · License #27741
(202) 744-5845
Source:
Bradkappel
Added: Aug 19
Changed: Nov 8
Last Checked: Nov 8 at 5:47PM
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 Area Properties, LLC
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Investment Insights
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This 1,174-square-foot condo has two bedrooms and two bathrooms, with an open living and kitchen area connected by a spiral staircase. Renovations were completed in 2023, including updated bathrooms and upgraded kitchen countertops. A fireplace, large windows, in-unit washer and dryer hookups, and one assigned off-street parking space are among the unit’s features. The building dates to 1992 and has brick construction; the unit’s stated architectural styles are Art Deco and Contemporary.
The home is part of the Lake Pointe Condo community in Upper Marlboro, Maryland.
The home is part of the Lake Pointe Condo community in Upper Marlboro, Maryland.
Key Highlights
- Two bedrooms and two bathrooms in 1,174 square feet
- Renovated in 2023; building constructed in 1992
- Spiral staircase connects the living areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,805
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$316,100
$316.1K
Cap Rate 7%
$225,786
$225.8K
Cap Rate 9%
$175,611
$175.6K
Market Conditions
NOI Build-Up for 1,174 SF
Gross rent
$30.6K $26.04/SF
− Vacancy
−$1.8K −$1.56/SF
EGI
$28.7K $24.48/SF
− OpEx
−$12.9K −$11.01/SF
NOI
$15.8K $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%
$316,100
Cap Rate 7%
$225,786
Cap Rate 9%
$175,611
Alternative Uses
Best Use
Apartment 5plus
$225.8K
$197.6K – $263.4K
NOI $15,805 @ 7.0% cap · market cap 5.27%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$378.7K
$331.4K – $441.9K
NOI $26,511 @ 7.0% cap · market cap 8.84%
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
1,293
Businesses Nearby
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Business Placement
Demographics for 20774, MD
51,984
Population
21,747
Households
2.4
Avg Household Size
42
Median Age
46%
College-Educated
96%
High-School Grad
34.9 sq mi
ZIP Area
1,490
Density / Sq Mi
$128,392
Median Household Income
$67,098
Median Earnings
$2,213
Median Rent
$439,500
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Prince George's County, MD
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Frequently Asked Questions
What type of property is this?
Residential income property - A spiral staircase links the living areas, with a fireplace anchoring the main room.
Where is this residential income property located?
The property is located at 9816 LAKE POINTE COURT Unit 302 Upper Marlboro, MD.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two bedrooms and two bathrooms in 1,174 square feet; Renovated in 2023; building constructed in 1992; Spiral staircase connects the living areas
