15201 Elkridge Way #93-2J, Silver Spring, MD, 20906 | $164/mo Cash Flow

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15201 Elkridge Way #93-2J, Silver Spring, MD, 20906 | $164/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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Ziffy AI Summary

A quick, investor-focused snapshot highlighting income strength, yield potential.

Key metrics	Value
Price	$399,900
Est. Rent	$3,200/mo
ROI	18%

Attractive rent-to-price ratio for income stability
Good fit for DSCR financing with healthy coverage

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Investment Highlights

Investment property for sale in Silver Spring at 15201 Elkridge Way #93-2J, Silver Spring, MD, 20906 earns $164/mo cash flow from $1,501/mo rent with a $1,052/mo payment. Total monthly income totals $1,501/mo, and annual cash flow totals $1,970/yr on $71,273 capital. ROI tracks 22.67% on current figures, and rental yield reads 8.38% at a $215,000 purchase. Equity gained on principal adds $1,387/yr, and 5% annual appreciation supports $59,401 over five years. Five-year ROI reaches 117.76% and total cumulative return in cash sums $83,929. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,501/mo property income instead of your personal income.

Condo

Built in 1979

N/A lot

$N/A/sqft

No HOA

More details about the property

Welcome Home to this bright and spacious unit with a low monthly condo fee in Leisure World. This 2 bedroom, 2 full bath home with a traditional floor plan and over 1000 square feet of living space is not to be missed. New flooring installed throughout in 2024. The living room and dining room are the ideal spot for home entertaining. The eat-in kitchen has plenty of cabinet and counter space along with a large pantry. The primary bedroom is host to an en-suite bathroom and walk-in closet. The additional bedroom is ideal for guests or a home office. A second full bath, laundry room, sunroom, assigned parking and storage area complete the unit. Convenient to ICC, shopping and restaurants.

Neighborhood Data

Neighborhood data shown for ZIP Code: 20906, Silver Spring, MD area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	27,199 (100%)
Owner Occupied HU	17,677 (65.0%)
Renter Occupied HU	8,174 (30.1%)
Vacant Housing Units	1,348 ( 5.0%)
Median Home Value	$493,091
Average Home Value	$533,723