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Property profile & analytics
OFF-MARKET
Estimated value
$5,475,000
Residential income homes
3214 Norbeck Rd Silver Spring, MD 20906-1056
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US40-1116698
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
2006
Total area
26,915 SF
Lot
1.74 ac (75,860 SF)
Zoning code
RE2
APN
13-03411568
UPID
US40-1116698
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
-
Grace House Nursing Home Retirement Community
-
Victory Housing Inc Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.80M
Blend (final)
Blend
$5.48M
Owner & transaction history
Grace House INC · 21 yrs held
Grace House INC
since 2005
2 recorded transactions
Zoning & alternative use
RE2 · Silver Spring, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$8.9M
+7.4%
Warehouse, storage
$8.4M
+1.8%
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 Silver Spring submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Silver Spring 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
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$8,275,000
Current use
OFFICE BUILDING
$8,890,000
Change: +7% · Conversion: Moderate
WAREHOUSE, STORAGE
$8,425,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$5.48M
Range $4.93M – $6.02M · ±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
$203 / 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
$4,590,767
Assessed 2023
Previous assessed
$4,590,767
+0.0% YoY
Land market value
$682,800
Improvement market value
$3,913,700
Total market value
$4,596,500
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
2006
Heating
FORCED AIR
Stories
2
Units
1
Total area
26,915 SF
Lot
1.74 ac (75,860 SF)
Zoning code
RE2
APN
13-03411568
UPID
US40-1116698
Jurisdiction
MONTGOMERY
Metro division
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN DIVISION
Zoning & alternative use
RE2 · Silver Spring, MD
Zoning RE2 · permitted uses
RE2 · Silver Spring, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Silver Spring. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$8.3M
OFFICE BUILDING
Est. value
$8.9M
WAREHOUSE, STORAGE
Est. value
$8.4M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2006
Heating
FORCED AIR
Stories
2
Units
1
Lot
1.74 ac
Current owner
From public records · entity-resolved
Grace House INC
Entity
Mailing address
11400 ROCKVILLE PIKE STE #505, ROCKVILLE, MD 20852-3022
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 22, 2005
—
Grace House INC
Victory Housing INC
Grant Deed
$2,072,000 · United Bank
—
—
Grace House INC
—
Loan Modification
related
$1,860,000 · United Bank
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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