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Property profile & analytics
OFF-MARKET
Estimated value
$18,335,000
Residential income homes
18901 Waring Sta Rd Germantown, MD 20874-1906
Entity Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US40-0940287
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
2007
Construction
STEEL FRAME
Total area
112,484 SF
Lot
31.96 ac (1,392,177 SF)
Zoning code
RE1
APN
09-03271384
UPID
US40-0940287
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
New Covenant Fellowship Church 휄로쉽 교회 Church
-
Fellowship Christian School High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$21.08M
Blend (final)
Blend
$18.34M
Owner & transaction history
Covenant Village LP · 19 yrs held
Covenant Village LP
since 2006
3 recorded transactions
Zoning & alternative use
RE1 · Germantown, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Germantown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Germantown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$18.34M
Range $16.50M – $20.17M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$163 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Assessed value
$22,307,300
Assessed 2023
Previous assessed
$22,307,300
+0.0% YoY
Assessed land
$3,368,200
Assessed improvement
$18,939,100
Land market value
$3,368,200
Improvement market value
$18,939,100
Total market value
$22,307,300
Applied tax rate
42.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
2007
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Buildings
3
Stories
1
Units
3
Total area
112,484 SF
Lot
31.96 ac (1,392,177 SF)
Zoning code
RE1
APN
09-03271384
UPID
US40-0940287
Jurisdiction
MONTGOMERY
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
RE1 · Germantown, MD
Zoning RE1 · permitted uses
RE1 · Germantown, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Germantown. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2007
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
31.96 ac
Current owner
From public records · entity-resolved
Covenant Village LP
Entity
Mailing address
5101 RIV RD STE #100, BETHESDA, MD 20816-1512
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 18, 2006
—
Covenant Village LP
—
Deed Of Trust
related
$7,600,000 · Housing Opportunities Commissi
Jan 19, 2005
—
New Covenant Fellowsh Washington
—
Trustees Deed
related
$500,000 · Private Lender
—
—
Covenant Village LP
—
Deed Of Trust
related
$4,300,000 · Montgomery County (md)
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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