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Comparative Market Analysis
406 Girard Street, Gaithersburg, Maryland 20877
Deborah JULY 15, 2021
Alex Martinez Group RE The Agency DC Metro
Comparative Market Analysis
406 Girard Street, Gaithersburg, Maryland 20877
What is a CMA No two homes are identical, which is why choosing a sales price or offer price for a home can be challenging. That's where the comparative market analysis, or CMA, is most useful.
What is a CMA?
The CMA is a side-by-side comparison of homes for sale and homes that have recently sold in the same neighborhood and price range. This information is further sorted by data such as type of home, number of bedrooms, number of baths, lot size, neighborhood, property condition and features, and many other factors. The purpose is to show estimated market value, based on what other buyers and sellers have determined through past sales, pending sales and homes recently put on the market.
How is the CMA created?
CMAs are generated by using property information from your real estate agent's multiple listing service (MLS). The MLS is available to licensed members only, including brokers, salespeople, and appraisers, who pay dues to gain access to the service's public and proprietary data, including tax roll information, sold transactions, and listings input by all cooperating MLS members. Listing agents generate CMAs for their sellers, and buyer's agents create them for their buyers so both sides know what current market conditions are for the homes they're interested in comparing.
How accurate are CMAs?
The CMA is a here-and-now snapshot of the market, based on the most recent data available, but it can instantly be rendered obsolete by a new listing, or a change of status in a home with the same criteria. Why? The market is constantly changing - new listings, pending sales, closed sales, price reductions, and expired listings. CMAs can vary widely, depending on the knowledge and skill of the person creating the CMA as well as the number and type of data Selds that are chosen. That means some features may not be included. As informative as the CMA is, it should only be used as a tool and should not substitute for your real estate professional's knowledge and advice.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
2
Comparative Market Analysis
406 Girard Street, Gaithersburg, Maryland 20877
Map of Comparable Listings
STATUS:
MLS #
STATUS
ADDRESS
S = CLOSED
A = ACTIVE
BEDS
BATHS
SQFT
PRICE
406 Girard St
1
1.00
1,127
-
1
Subject
2
MDMC738242
S
438 Girard St #250
2
2.0/0
1,371
$130,000
3
MDMC750180
S
436 Girard St #303
2
1.0/0
1,025
$145,000
4
MDMC738312
S
428 Girard St #188
2
1.0/0
1,037
$138,000
5
MDMC743448
S
412 Girard St #82
2
1.0/0
1,037
$145,000
6
MDMC2005220
A
406 Girard St #28
2
1.0/0
883
$145,000
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
3
Comparative Market Analysis
406 Girard Street, Gaithersburg, Maryland 20877
Summary of Comparable Properties S
SOLD LISTINGS
ADDRESS
SOLD DATE
BEDS
BATHS
SQFT
PRICE
$/SQ.FT
438 Girard St #250
1/28/21
2
2.0/0
1,371
$130,000
$95
436 Girard St #303
5/28/21
2
1.0/0
1,025
$145,000
$141
428 Girard St #188
1/29/21
2
1.0/0
1,037
$138,000
$133
412 Girard St #82
3/24/21
2
1.0/0
1,037
$145,000
$140
1,117
$139,500
$127
Averages
A
ACTIVE LISTINGS
ADDRESS
406 Girard St #28
SOLD DATE
BEDS
BATHS
SQFT
PRICE
$/SQ.FT
-
2
1.0/0
883
$145,000
$164
883
$145,000
$164
Averages
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
4
Listings
Alex Martinez Group RE The Agency DC Metro
Comparative Market Analysis
406 Girard Street, Gaithersburg, Maryland 20877
438 Girard St #250
Gaithersburg, MD 20877
$130,000 CLOSED
2 Beds 2.0/0 Baths Year Built 1976
1/28/21
MLS #MDMC738242 1,371 Sq. Ft. ($95 / sqft) Days on market: 8
Details Prop Type: Single Family Residence
Style: ["Colonial"]
Off-market date: 1/29/21
Orig list price: $130,000
Full baths: 2.0 Lot Size:
Updated: Jan 29, 2021 7:45 AM
Taxes: $1,427
County: MONTGOMERY
List date: 12/18/20
List Price: $130,000
School District: MONTGOMERY COUNTY PUBLIC SCHOOLS
Above Grade Finished Area Source: Estimated
Building Name : VILLA RIDGE SEC
Laundry Type: Dryer In Unit, Washer In Unit
Security Features: Main Entrance Lock
Above Grade Finished Area Units: Square Feet
Construction Materials: Brick
Levels: 1
Senior Community Yn: false
Cooling: Central A/C
Living Area Source: Estimated
Sewer: Public Sewer
Accessibility Features: None Association Amenities: Jog/ Walk Path, Pool - Outdoor
Cooling Fuel: Electric
Main Level Bedrooms: 2
Structure Type: Unit/Flat/ Apartment
Entry Level: 250
Number Of Units Total: 1
Tax Year: 2020
Association Fee 2: 705
Heating: Forced Air Heating Fuel: Electric
Association Fee Includes: Lawn Care Front, Lawn Maintenance, Pool(s), Road Maintenance
Room Type: Dining Room, Bedroom 2, Kitchen, Bedroom 1, Bathroom 1, Bathroom 2
Virtual Tour: View
Association Fee 2 Frequency: Monthly
Interior Features: Carpet, Dining Area, Kitchen - Galley, Walk-in Closet(s)
Subdivision: VILLA RIDGE SEC 3 CODM
Features
Hot Water: Electric
Water Source: Public Zoning: R18
Special Listing Conditions: Standard
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
6
Comparative Market Analysis
406 Girard Street, Gaithersburg, Maryland 20877
Remarks ***FHA APPROVED*** One the biggest 2 bed 2 bath units plus a den! Whether you are an investor or a Srst time homebuyer, this condo is ready for your updates! Enter into the sunlit living room, enjoy the spacious master bedroom with walk-in closet, stir up some good cooking while enjoying the food in the breakfast area in the morning and the dining room area in the evening. Plus have the convenience of having a washer and dryer in your home! Close to, 270, 355, the mall and other shopping centers. Come view this property today!
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
7
Comparative Market Analysis
438 Girard St #250
406 Girard Street, Gaithersburg, Maryland 20877 Gaithersburg, MD 20877
$130,000 CLOSED
1/28/21
2 Beds 2.0/0 Baths Year Built 1976
MLS #MDMC738242 1,371 Sq. Ft. ($95 / sqft) Days on market: 8
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
8
Comparative Market Analysis
406 Girard Street, Gaithersburg, Maryland 20877
436 Girard St #303
Gaithersburg, MD 20877
$145,000 CLOSED
2 Beds 1.0/0 Baths Year Built 1975
5/28/21
MLS #MDMC750180 1,025 Sq. Ft. ($141 / sqft) Days on market: 4
Details Prop Type: Single Family Residence
Style: ["Unit/Flat"]
Off-market date: 6/1/21
Orig list price: $145,000
Full baths: 1.0 Lot Size:
Updated: Jun 24, 2021 11:24 AM
Taxes: $1,111
County: MONTGOMERY
List date: 4/23/21
List Price: $145,000
School District: MONTGOMERY COUNTY PUBLIC SCHOOLS
Above Grade Finished Area Source: Assessor
Below Grade Finished Area Source: Assessor
Heating Fuel: Electric
Senior Community Yn: false
Hot Water: Electric
Sewer: Public Sewer
Above Grade Finished Area Units: Square Feet
Below Grade Finished Area Units: Square Feet
Levels: 1
Structure Type: Unit/Flat/ Apartment
Accessibility Features: None
Building Name : VILLA RIDGE SEC
Subdivision: VILLA RIDGE CONDO
Features
Association Amenities: Pool - Outdoor Association Fee 2: 585
Construction Materials: Brick
Association Fee 2 Frequency: Monthly
Cooling: Central A/C, Heat Pump(s)
Association Fee Includes: Common Area Maintenance
Cooling Fuel: Electric Entry Level: 2 Heating: Heat Pump(s)
Living Area Source: Assessor
Tax Year: 2020
Main Level Bedrooms: 2
Virtual Tour: View
Number Of Units Total: 1
Water Source: Public
Parking Features: Assigned
Zoning: R18
Room Type: Living Room, Dining Room, Bedroom 2, Kitchen, Bedroom 1, Full Bath Special Listing Conditions: Standard
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
9
Comparative Market Analysis
406 Girard Street, Gaithersburg, Maryland 20877
Remarks This beautifully maintained and updated condo is ready for you to call home! Featuring 2 spacious bedrooms, 1 full bathroom that has been updated and has a new in-unit washer & dryer, loads of closet space, a galley kitchen with updated appliances and enough room for dining, a very roomy living room and bonus dining/study nook that can be converted to many different uses, a brand new HVAC system, and so much more! Enjoy spending time on your private balcony that overlooks the common area. Located in a great community with a pool and is near shopping, restaurants, and commuter routes, this condo is ready for you!
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
10
Comparative Market Analysis
436 Girard St #303
406 Girard Street, Gaithersburg, Maryland 20877 Gaithersburg, MD 20877
$145,000 CLOSED
5/28/21
2 Beds 1.0/0 Baths Year Built 1975
MLS #MDMC750180 1,025 Sq. Ft. ($141 / sqft) Days on market: 4
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
11
Comparative Market Analysis
406 Girard Street, Gaithersburg, Maryland 20877
428 Girard St #188
Gaithersburg, MD 20877
$138,000 CLOSED
2 Beds 1.0/0 Baths Year Built 1975
1/29/21
MLS #MDMC738312 1,037 Sq. Ft. ($133 / sqft) Days on market: 7
Details Prop Type: Single Family Residence
Full baths: 1.0 Lot Size:
Updated: Feb 1, 2021 3:44 AM
County: MONTGOMERY
List date: 12/17/20
List Price: $129,900
School District: MONTGOMERY COUNTY PUBLIC SCHOOLS
Subdivision: VILLA RIDGE SEC 2 CODM
Off-market date: 2/1/21
Orig list price: $129,900
High: GAITHERSBURG
Taxes: $1,111
Middle: GAITHERSBURG
Style: ["Traditional"]
Elementary: GAITHERSBURG
Features Above Grade Finished Area Source: Assessor
Association Fee Includes: Air Conditioning, Common Area Maintenance, Electricity, Ext Bldg Maint, Gas, Heat, Lawn Maintenance, Management, Pool(s), Reserve Funds, Road Maintenance, Sewer, Snow Removal, Trash, Water
Building Name : VILLA RIDGE SEC
Living Area Source: Assessor
Construction Materials: Combination
Main Level Bedrooms: 2
Cooling: Central A/C
Association Fee 2: 585
Association Name 2: Villa Ridge
Heating: Forced Air
Parking Features: General Common Elements, Handicap Parking, Permit Included, Unassigned
Association Fee 2 Frequency: Monthly
Below Grade Finished Area Source: Assessor
Hot Water: Natural Gas
Above Grade Finished Area Units: Square Feet Accessibility Features: None Association Amenities: Pool - Outdoor, Tot Lots/ Playground
Below Grade Finished Area Units: Square Feet
Cooling Fuel: Electric Entry Level: 3 Heating Fuel: Natural Gas Levels: 1
Number Of Units Total: 1
Pets Allowed: Size/Weight Restriction Property Condition: Very Good
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
12
Comparative Market Analysis
Room Type: Living Room, Kitchen
406 Girard Street, Gaithersburg, Maryland 20877
Senior Community Yn: false Sewer: Public Sewer
Special Listing Conditions: Standard
Structure Type: Unit/Flat/ Apartment
Water Source: Public Zoning: R18
Tax Year: 2020
Remarks Welcome to your new home! This two bedroom top Toor unit is freshly painted has new carpet throughout. Functional kitchen with breakfast nook, separate dining room, washer/dryer in unit, tons of natural light and balcony. Condo fee includes all utilities plus community pool, plenty of parking available, snow and trash removal. Villa Ridge Condos are FHA approved! Conveniently location to major routes, shopping centers, grocery stores, Old Town Gaithersburg, Mid County Highway and easy access to public transportation. Take advantage of historically low interest rates and make you offer today before it's gone!
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
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Comparative Market Analysis
428 Girard St #188
406 Girard Street, Gaithersburg, Maryland 20877 Gaithersburg, MD 20877
$138,000 CLOSED
1/29/21
2 Beds 1.0/0 Baths Year Built 1975
MLS #MDMC738312 1,037 Sq. Ft. ($133 / sqft) Days on market: 7
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
14
Comparative Market Analysis
406 Girard Street, Gaithersburg, Maryland 20877
412 Girard St #82 $145,000 CLOSED
MLS #MDMC743448
Gaithersburg, MD 20877
2 Beds 1.0/0 Baths Year Built 1975
3/24/21
1,037 Sq. Ft. ($140 / sqft) Days on market: 2
Details Prop Type: Single Family Residence
Full baths: 1.0 Lot Size:
Updated: Mar 25, 2021 9:23 PM
County: MONTGOMERY
List date: 2/17/21
List Price: $138,000
Subdivision: VILLA RIDGE
Off-market date: 3/25/21
Orig list price: $138,000
Style: ["Contemporary", "Traditional"]
School District: MONTGOMERY COUNTY PUBLIC SCHOOLS
Taxes: $1,111
Features Above Grade Finished Area Source: Assessor
Association Fee 2 Frequency: Monthly
Below Grade Finished Area Units: Square Feet
Above Grade Finished Area Units: Square Feet
Association Fee Includes: Air Conditioning, Common Area Maintenance, Electricity, Ext Bldg Maint, Gas, Heat, Lawn Maintenance, Management, Pool(s), Recreation Facility, Sewer, Snow Removal, Trash, Water
Construction Materials: Brick
Association Name 2: The Villa Ridge Condomunium
Heating: 90% Forced Air
Living Area Source: Assessor
Below Grade Finished Area Source: Assessor
Heating Fuel: Natural Gas
Main Level Bedrooms: 2
Hot Water: Natural Gas
Number Of Units Total: 1
Accessibility Features: None Appliances: Dishwasher, Disposal, Stove, Refrigerator, Washer, Dryer Association Amenities: Community Center, Party Room, Pool - Outdoor, Tennis Courts, Tot Lots/Playground Association Fee 2: 585
Cooling Fuel: Electric
Interior Features: Carpet, Dining Area, Entry Level Bedroom, Family Room Off Kitchen, Kitchen - Eat-In, Pantry, Recessed Lighting, Tub Shower, Walk-in Closet(s)
Entry Level: 3
Laundry Type: Main Floor
Flooring: Hardwood, Partially Carpeted
Levels: 1
Cooling: Central A/C
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
15
Comparative Market Analysis
406 Girard Street, Gaithersburg, Maryland 20877
Property Condition: Excellent
Senior Community Yn: false
Tax Year: 2021
Rooms Total: 2
Sewer: Public Sewer
Water Source: Public
Special Listing Conditions: Standard
Structure Type: Unit/Flat/ Apartment
Year Built Effective: 2021
Zoning: R18
Remarks BAMMM!!!....ATTENTION INVESTORS AND BUYERS:...MOVE-IN READY 2 BEDROOM 1 BATH CONDO!!... FRESHLY PAINTED, NEW CARPET, STAINLESS STEEL APPLIANCES. WASHER & DRYER, AND MORE!!.... ALL UTILITIES INCLUDED IN THE MONTHLY CONDO FEE....PLENTY OF PARKING....LOCATED NEAR METRO, RESTAURANTS, SHOPPING CENTERS, AND MORE!!.... GREAT LOCATION, GREAT VALUE!!... THIS IS A MUST SEE!!
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
16
Comparative Market Analysis
412 Girard St #82
406 Girard Street, Gaithersburg, Maryland 20877
$145,000 CLOSED
MLS #MDMC743448
Gaithersburg, MD 20877
3/24/21
2 Beds 1.0/0 Baths Year Built 1975
1,037 Sq. Ft. ($140 / sqft) Days on market: 2
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
17
Comparative Market Analysis
406 Girard Street, Gaithersburg, Maryland 20877
406 Girard St #28 $145,000 ACTIVE
MLS #MDMC2005220
Gaithersburg, MD 20877
2 Beds 1.0/0 Baths Year Built 1975
7/12/21
883 Sq. Ft. ($164 / sqft) Days on market: 2
Details Prop Type: Single Family Residence
Full baths: 1.0
List Price: $145,000
Lot Size:
Orig list price: $145,000
County: MONTGOMERY
List date: 7/12/21
Taxes: $984
Subdivision: VILLA RIDGE
Updated: Jul 13, 2021 5:54 AM
Style: ["Traditional"]
School District: MONTGOMERY COUNTY PUBLIC SCHOOLS
Features Above Grade Finished Area Source: Assessor
Association Fee Includes: Water, Sewer, Heat, Electricity
Heating: Forced Air
Senior Community Yn: false
Heating Fuel: Electric
Sewer: Public Sewer
Above Grade Finished Area Units: Square Feet
Below Grade Finished Area Source: Assessor
Hot Water: Electric
Structure Type: Unit/Flat/ Apartment
Accessibility Features: None
Below Grade Finished Area Units: Square Feet
Association Amenities: Other Association Fee 2: 545 Association Fee 2 Frequency: Monthly
Levels: 1 Living Area Source: Assessor
Tax Year: 2020
Main Level Bedrooms: 2
Water Source: Public
Cooling: Central A/C
Number Of Units Total: 1
Zoning: R18
Cooling Fuel: Electric
Special Listing Conditions: Standard
Construction Materials: Brick
Entry Level: 1
Virtual Tour: View
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
18
Comparative Market Analysis
406 Girard Street, Gaithersburg, Maryland 20877
Remarks Move-in ready completely renovated just for you! This 2 bedroom 1 bathroom cozy condo features: Gorgeous Tooring, up to date stainless steel appliances complimented by granite countertops. Enjoy the private patio backing up to the lovely view if the neighborhood. Washer and dryer conveniently located within the unit. Within close proximity to shopping centers, major roads and i-270! Call us to make this your home today!
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
19
Comparative Market Analysis
406 Girard St #28
406 Girard Street, Gaithersburg, Maryland 20877
$145,000 ACTIVE
MLS #MDMC2005220
Gaithersburg, MD 20877
7/12/21
2 Beds 1.0/0 Baths Year Built 1975
883 Sq. Ft. ($164 / sqft) Days on market: 2
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
20
Analysis
Alex Martinez Group RE The Agency DC Metro
Comparative Market Analysis
406 Girard Street, Gaithersburg, Maryland 20877
Comparable Property Statistics S
4 Sold Listings LOWEST
$130,000
A
AVERAGE
$139,500
HIGH
$145,000
AVG PRICE / SQFT
AVG DOM
$127
5
AVG PRICE / SQFT
AVG DOM
$164
2
1 Active Listings LOWEST
$145,000
AVERAGE
$145,000
HIGH
$145,000
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
22
Comparative Market Analysis
406 Girard Street, Gaithersburg, Maryland 20877
Sold Property Analysis Averages
102.8%
Homes sold for an average of 102.8% of their list price.
5
Days on market
It took an average of 5 days for a home to sell.
Analysis ADDRESS
ORIG LIST PRICE
SOLD PRICE
% OF ORIG LIST PRICE
DOM
$ PER SQFT
438 Girard St #250
$130,000
$130,000
100.00%
8
$95
436 Girard St #303
$145,000
$145,000
100.00%
4
$141
428 Girard St #188
$129,900
$138,000
106.24%
7
$133
412 Girard St #82
$138,000
$145,000
105.07%
2
$140
$135,725
$139,500
102.78%
5
$127
Averages
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
23
Comparative Market Analysis
406 Girard Street, Gaithersburg, Maryland 20877
The Value of Your Home In a neighborhood of similar homes, why is one worth more than another? That's the question that's teased buyers and sellers for ages, but the answer is simple. Every home is different When a home is sold, a willing seller and a willing buyer determine the value of that home with the sale price. That price then becomes a benchmark for other similar homes, but other factors come into play. The most important are:
Location The closer a home is to jobs, parks, transportation, schools, and community services, the more desirable it is.
Size Square footage impacts home value because a larger home is built using more materials, and gives the homeowner more usable space. And a larger lot size could mean more privacy than a smaller one.
Number of bedrooms and baths Additional bedrooms and bathrooms raise the value of a home compared to similar homes that do not have those rooms.
Features and =nishes Features such as outdoor kitchens and spa baths make a home more luxurious. A home Snished with hardwood Toors and granite countertops is going to cost more than a home with carpet and laminate countertops.
Condition The closer a home is to new construction, the more it will retain its value. It's perceived as more modern, up to date, and perhaps safer. Homes that are not updated or in poor repair sell for less as purchasers' factor in the cost of updating and eventually replacing appliances and systems.
Curb appeal From the street, the home looks clean, fresh, and inviting. Fresh landscaping and Towers won't change the size or location, but they certainly add charm. When two homes are identical in the same neighborhood, a higher price may come down to something as simple as views, paint colors, or the overall taste of the homeowner.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
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