Listing
Presentation
The Agency D.C. Metro Alex Martinez
Managing Partner, D.C. Metro ______
Cell: (240) 258.2668 Direct: (240) 292.6237 Office: (202) 888.1127 ext. 302 Alex.M@TheAgencyRE.com
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Comparative Market Analysis
11403 Monterrey Drive, Silver Spring, Maryland 20902
Adriana Rodriguez MAY 24, 2021
Alex Martinez Group RE The Agency DC Metro
Comparative Market Analysis
11403 Monterrey Drive, Silver Spring, Maryland 20902
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 fields 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
11403 Monterrey Drive, Silver Spring, Maryland 20902
Map of Comparable Listings
STATUS:
MLS #
STATUS
ADDRESS
S = CLOSED
P = PENDING
BEDS
BATHS
SQFT
PRICE
11403 Monterrey Dr
4
2.00
1,146
-
1
Subject
2
MDMC731618
S
2803 Parker Ave
3
2.0/0
858
$435,000
3
MDMC747650
S
2908 Dawson Ave
5
2.0/0
1,298
$445,000
4
MDMC736180
S
11418 Sherrie Ln
4
2.0/0
1,120
$465,000
5
MDMC755338
P
2906 Fenimore Rd
3
2.0/0
1,000
$460,000
6
MDMC758630
P
2905 Fenimore Rd
4
2.0/0
936
$470,000
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
3
Comparative Market Analysis
11403 Monterrey Drive, Silver Spring, Maryland 20902
Summary of Comparable Properties S
SOLD LISTINGS
ADDRESS
SOLD DATE
BEDS
BATHS
SQFT
PRICE
$/SQ.FT
2803 Parker Ave
11/30/20
3
2.0/0
858
$435,000
$507
2908 Dawson Ave
4/22/21
5
2.0/0
1,298
$445,000
$343
11418 Sherrie Ln
1/15/21
4
2.0/0
1,120
$465,000
$415
1,092
$448,333
$422
Averages
P
PENDING LISTINGS
ADDRESS
SOLD DATE
BEDS
BATHS
SQFT
PRICE
$/SQ.FT
2906 Fenimore Rd
6/4/21
3
2.0/0
1,000
$460,000
$460
2905 Fenimore Rd
6/16/21
4
2.0/0
936
$470,000
$502
968
$465,000
$481
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
11403 Monterrey Drive, Silver Spring, Maryland 20902
2803 Parker Ave $435,000 CLOSED
MLS #MDMC731618
Silver Spring, MD 20902
3 Beds 2.0/0 Baths Year Built 1949
11/30/20
858 Sq. Ft. ($507 / sqft) Days on market: 8
Details Prop Type: Single Family Residence
Full baths: 2.0 Acres: 0.2
Updated: Apr 6, 2021 9:02 PM
County: MONTGOMERY
Lot Size: 8,735.0
List Price: $435,000
Subdivision: WHEATON HILLS
List date: 10/24/20
Orig list price: $435,000
Off-market date: 12/1/20
Taxes: $3,891
Above Grade Finished Area Source: Assessor
Below Grade Finished Area Source: Assessor
Special Listing Conditions: Standard
Above Grade Finished Area Units: Square Feet
Below Grade Finished Area Units: Square Feet
Interior Features: Entry Level Bedroom, Floor Plan Traditional Laundry Type: Basement
Sewer: Public Sewer
Accessibility Features: None
Construction Materials: Other
Levels: 1
Structure Type: Detached
Cooling: Central A/C
Living Area Source: Assessor
Tax Lot: 4
Cooling Fuel: Electric
Lot Size Source: Assessor
Heating: Forced Air
Lot Size Units: Square Feet
Heating Fuel: Natural Gas
Main Level Bedrooms: 2
Hot Water: Natural Gas
Other Structures: Shed
Style: ["Traditional"]
School District: MONTGOMERY COUNTY PUBLIC SCHOOLS
Features
Appliances: Dishwasher, Disposal, Dryer, Icemaker, Microwave, Oven/Range Gas, Refrigerator, Washer Basement: Fully Finished Below Grade Finished Area: 429
Senior Community Yn: false
Tax Year: 2020 Virtual Tour: View Water Source: Public Zoning: R60
Patio And Porch Features: Patio(s)
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
6
Comparative Market Analysis
11403 Monterrey Drive, Silver Spring, Maryland 20902
Remarks OPEN SUNDAY 10/25 2-4 Located in Wheaton Hills, this charming 3 BD plus den/rec room, 2 BA rambler sits on an expansive, private lot. Recently renovated kitchen boasts granite counters, tile backsplash, and stainless steel appliances. Two light-filled bedrooms can be found on the main level, both with wood floors and two spacious closets. Downstairs, the lower level includes a spacious laundry/storage room, a third bedroom, a full bath, and a private den / office space. Outside, the sprawling exterior features a private yard with a spacious patio - perfect for dining al fresco on a warm summer evening.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
7
Comparative Market Analysis
2803 Parker Ave
11403 Monterrey Drive, Silver Spring, Maryland 20902
$435,000 CLOSED
MLS #MDMC731618
Silver Spring, MD 20902
11/30/20
3 Beds 2.0/0 Baths Year Built 1949
858 Sq. Ft. ($507 / 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
11403 Monterrey Drive, Silver Spring, Maryland 20902
2908 Dawson Ave $445,000 CLOSED
MLS #MDMC747650
Silver Spring, MD 20902
5 Beds 2.0/0 Baths Year Built 1949
4/22/21
1,298 Sq. Ft. ($343 / sqft) Days on market: 6
Details Prop Type: Single Family Residence
Full baths: 2.0 Acres: 0.16
Updated: Apr 22, 2021 8:01 PM
County: MONTGOMERY
Lot Size: 6,900.0
List Price: $445,000
Subdivision: WHEATON HILLS
List date: 3/18/21
Orig list price: $430,000
Off-market date: 4/22/21
Taxes: $4,109
Above Grade Finished Area Source: Assessor
Below Grade Finished Area: 920
Flooring: Hardwood
Lot Size Units: Square Feet
Heating: 90% Forced Air
Main Level Bedrooms: 4
Above Grade Finished Area Units: Square Feet
Below Grade Finished Area Source: Estimated
Heating Fuel: Natural Gas
Parking Features: Free
Accessibility Features: Other
Below Grade Finished Area Units: Square Feet
Hot Water: Natural Gas
Pets Allowed: No Pet Restrictions
Style: ["Ranch/Rambler"]
School District: MONTGOMERY COUNTY PUBLIC SCHOOLS
Features
Appliances: Built-In Range, Dishwasher, Disposal, Dryer, Icemaker, Microwave, Refrigerator, Stove, Washer Basement: Daylight, Partial, Full, Fully Finished, Outside Entrance, Rear Entrance
Construction Materials: Brick
Interior Features: Ceiling Fan(s)
Property Condition: Good
Levels: 2
Roof: Asphalt
Living Area Source: Estimated
Special Listing Conditions: Standard
Electric: 110 Volts
Lot Features: Level, Rear Yard, Vegetation Planting
Senior Community Yn: false
Entry Level: 1
Lot Size Source: Assessor
Structure Type: Detached
Cooling: Central A/C Cooling Fuel: Electric
Fencing: Fully
Sewer: Public Sewer
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
9
Comparative Market Analysis
Tax Lot: 4 Tax Year: 2020 Total Garage And Parking Spaces: 4
11403 Monterrey Drive, Silver Spring, Maryland 20902
Utilities: Phone, Electric Available, Natural Gas Available, Sewer Available, Water Available
Water Source: Public
View: Garden/Lawn
Off Street Spaces: 2
Zoning: R60 Driveway Spaces: 2
Remarks OFFERS DUE MONDAY 22ND AT 6 PM. Large house with four good size bedrooms on the 1St floor. Large living room and dining room & Huge Sunroom. The fully finished basement has its own entry that can be a rental for more income. To prevent the spread of COVID-19, please do not go if you feel unwell. Please USE the HAND SANITIZER AT THE TABLE IN THE HOUSE. PLEASE DO NOT TOUCH ANYTHING. There are two children at home to study but you can go into their room if needed. Thank you so much
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
10
Comparative Market Analysis
2908 Dawson Ave
11403 Monterrey Drive, Silver Spring, Maryland 20902
$445,000 CLOSED
MLS #MDMC747650
Silver Spring, MD 20902
4/22/21
5 Beds 2.0/0 Baths Year Built 1949
1,298 Sq. Ft. ($343 / sqft) Days on market: 6
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
11
Comparative Market Analysis
11403 Monterrey Drive, Silver Spring, Maryland 20902
11418 Sherrie Ln $465,000 CLOSED
MLS #MDMC736180
Silver Spring, MD 20902
4 Beds 2.0/0 Baths Year Built 1954
1/15/21
1,120 Sq. Ft. ($415 / sqft) Days on market: 10
Details Prop Type: Single Family Residence
Style: ["Raised Ranch/ Rambler", "Ranch/Rambler"]
List date: 12/1/20
Orig list price: $469,990
Off-market date: 1/15/21
Taxes: $4,022
County: MONTGOMERY
Full baths: 2.0
Subdivision: WHEATON HILLS
Acres: 0.22
Updated: Jan 15, 2021 8:21 AM
Lot Size: 9,386.0
List Price: $469,990
School District: MONTGOMERY COUNTY PUBLIC SCHOOLS
Carport Spaces: 3
Lot Size Source: Assessor
Structure Type: Detached
Construction Materials: Brick, Vinyl Siding
Lot Size Units: Square Feet
Tax Lot: 27
Main Level Bedrooms: 2
Tax Year: 2020
Accessibility Features: None
Cooling: Ceiling Fan(s), Central A/C
Parking Features: Concrete Driveway
Total Garage And Parking Spaces: 3
Basement: Fully Finished
Cooling Fuel: Electric Heating: Forced Air
Room Type: Living Room, Kitchen, Family Room, Den, Recreation Room
Water Source: Public
Below Grade Finished Area: 800 Below Grade Finished Area Source: Estimated
Hot Water: Natural Gas
Features Above Grade Finished Area Source: Assessor Above Grade Finished Area Units: Square Feet
Below Grade Finished Area Units: Square Feet
Heating Fuel: Natural Gas Levels: 2 Living Area Source: Estimated
Zoning: R60
Special Listing Conditions: Standard Senior Community Yn: false Sewer: Public Sewer
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
12
Comparative Market Analysis
11403 Monterrey Drive, Silver Spring, Maryland 20902
Remarks This charming 4 bedroom, 2 full bath offer the character of original design with beautiful recent updates that bring this house back to life. Recent updates include updated kitchen offering new cabinets, granite counters and stainless appliances, new and refinished hardwoods throughout main floor, updated bath with new tile, vanity, toilet and new lighting throughout the house. The basement offers lots of living space and potential for separate living space (for rental possibilities) with new carpet and another full updated bath. Fresh paint throughout and on exterior, Roof is approx. 5 year old (based on info available). The property is one of the biggest in this area with a large fenced backyard and an attached and detached carport and storage shed area. Backyard is perfect for entertaining, hobby/workshop area and great space if someone has work vehicles. The solar lease agreement conveys with approx. 15 years remaining to enjoy lower energy costs.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
13
Comparative Market Analysis
11418 Sherrie Ln
11403 Monterrey Drive, Silver Spring, Maryland 20902
$465,000 CLOSED
MLS #MDMC736180
Silver Spring, MD 20902
1/15/21
4 Beds 2.0/0 Baths Year Built 1954
1,120 Sq. Ft. ($415 / sqft) Days on market: 10
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
14
Comparative Market Analysis
11403 Monterrey Drive, Silver Spring, Maryland 20902
2906 Fenimore Rd $460,000 PENDING
MLS #MDMC755338
Silver Spring, MD 20902
3 Beds 2.0/0 Baths Year Built 1954
6/4/21
1,000 Sq. Ft. ($460 / sqft) Days on market: 6
Details Prop Type: Single Family Residence
Full baths: 2.0 Acres: 0.2
Updated: May 7, 2021 11:05 AM
County: MONTGOMERY
Lot Size: 8,841.0
List Price: $460,000
Subdivision: WHEATON HILLS
List date: 5/2/21
Orig list price: $460,000
Off-market date: 5/7/21
Taxes: $4,612
Above Grade Finished Area Source: Estimated
Below Grade Finished Area Source: Assessor
Hot Water: Natural Gas
Sewer: Public Sewer
Levels: 2
Structure Type: Detached
Above Grade Finished Area Units: Square Feet
Below Grade Finished Area Units: Square Feet
Living Area Source: Estimated
Tax Lot: 22
Accessibility Features: 36"+ wide Halls
Construction Materials: Brick
Lot Size Source: Assessor
Virtual Tour: View
Basement: Connecting Stairway, Daylight, Full
Cooling: Central A/C
Lot Size Units: Square Feet
Water Source: Public
Main Level Bedrooms: 3
Zoning: R60
Style: ["Ranch/Rambler"]
School District: MONTGOMERY COUNTY PUBLIC SCHOOLS
Features
Below Grade Finished Area: 468
Cooling Fuel: Natural Gas Heating: Central
Special Listing Conditions: Standard
Heating Fuel: Natural Gas
Senior Community Yn: false
Tax Year: 2020
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
15
Comparative Market Analysis
11403 Monterrey Drive, Silver Spring, Maryland 20902
Remarks Freshly painted and quintessential charm -renovated 3 bedrooms, 2 baths, SFH ranch/rambler. Move in ready colonial within short distance of Wheaton Mall, shops, restaurants, and Wheaton metro. The main level boasts hardwood floors, granite counters, 3 bedrooms, 1 full bath, dining room, and addition in back offers another bedroom or office. Lower level offers a rec room with a full bath, 2 bonus rooms, storage, and laundry room. A large newly painted sunny deck for grilling and cocktail hour oversees a yard with plantings, flowering trees, herbs, and shrubs. Freshly painted large red shed for all your toys and tools. Fully- fenced yard for your pet.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
16
Comparative Market Analysis
2906 Fenimore Rd
11403 Monterrey Drive, Silver Spring, Maryland 20902
$460,000 PENDING
MLS #MDMC755338
Silver Spring, MD 20902
6/4/21
3 Beds 2.0/0 Baths Year Built 1954
1,000 Sq. Ft. ($460 / sqft) Days on market: 6
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
17
Comparative Market Analysis
11403 Monterrey Drive, Silver Spring, Maryland 20902
2905 Fenimore Rd $470,000 PENDING
MLS #MDMC758630
Silver Spring, MD 20902
4 Beds 2.0/0 Baths Year Built 1954
6/16/21
936 Sq. Ft. ($502 / sqft) Days on market: 5
Details Prop Type: Single Family Residence
Full baths: 2.0 Acres: 0.16
Updated: May 18, 2021 4:18 AM
County: MONTGOMERY
Lot Size: 6,985.0
List Price: $470,000
Subdivision: WHEATON HILLS
List date: 5/14/21
Orig list price: $470,000
Off-market date: 5/18/21
Taxes: $4,093
Above Grade Finished Area Source: Assessor
Below Grade Finished Area Units: Square Feet
Laundry Type: Basement
Above Grade Finished Area Units: Square Feet
Construction Materials: Brick
Living Area Source: Estimated
Accessibility Features: None
Cooling: Central A/C
Lot Size Source: Assessor
Special Listing Conditions: Standard
Appliances: Dishwasher, Microwave, Stove, Refrigerator, Washer, Dryer
Cooling Fuel: Electric
Lot Size Units: Square Feet
Senior Community Yn: false
Flooring: Hardwood
Main Level Bedrooms: 3
Sewer: Public Sewer
Furnished: No
Other Structures: Shed
Structure Type: Detached
Heating: Central
Tax Lot: 26
Heating Fuel: Natural Gas
Parking Features: Concrete Driveway
Hot Water: Tankless, Natural Gas
Patio And Porch Features: Patio(s)
Total Garage And Parking Spaces: 4
Style: ["Ranch/Rambler"]
School District: MONTGOMERY COUNTY PUBLIC SCHOOLS
Features
Basement: Fully Finished Below Grade Finished Area: 900 Below Grade Finished Area Source: Estimated
Levels: 2
Pets Allowed: No Pet Restrictions Roof: Shingle
Tax Year: 2020
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
18
Comparative Market Analysis
11403 Monterrey Drive, Silver Spring, Maryland 20902
Virtual Tour: View
Window Features: Insulated
Water Source: Public
Zoning: R60
Off Street Spaces: 4
Remarks Welcome to Wheaton Hills! Walking distance to Wheaton Metro, close to Wheaton Mall, local shops and restaurants, and easy access to anywhere in the DMV. This two-level single-family home is move-in-ready, and is one of the few homes in Wheaton Hills tucked away in a cul-de-sac. This home offers a beautiful living space for your family, with open living & dining room, kitchen w/ quartz countertops, new microwave, stove and refrigerator. The main level with 3 bedrooms, and 1 updated bathroom has freshly refinished hardwood floors throughout. The finished basement lends itself well to multi-generational living. With 1 bedroom and 1 updated bath it can be used as a private suite as it can be accessed through the basement entrance. A large concrete patio out back is perfect for family gatherings and the two sheds situated on the property offer more than ample storage capacity. The roof, siding, and gutters were replaced in 2018 with a 50yr warranty. The windows have a lifetime warranty. HVAC and tankless water heater replaced in 2017. Schedule your private showing today - this gem won't be available for long! **owner MD realtor**
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
19
Comparative Market Analysis
2905 Fenimore Rd
11403 Monterrey Drive, Silver Spring, Maryland 20902
$470,000 PENDING
MLS #MDMC758630
Silver Spring, MD 20902
6/16/21
4 Beds 2.0/0 Baths Year Built 1954
936 Sq. Ft. ($502 / sqft) Days on market: 5
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
11403 Monterrey Drive, Silver Spring, Maryland 20902
Comparable Property Statistics S
3 Sold Listings LOWEST
$435,000
P
AVERAGE
$448,333
HIGH
$465,000
AVG PRICE / SQFT
AVG DOM
$422
8
AVG PRICE / SQFT
AVG DOM
$481
5
2 Pending Listings LOWEST
$460,000
AVERAGE
$465,000
HIGH
$470,000
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
22
Comparative Market Analysis
11403 Monterrey Drive, Silver Spring, Maryland 20902
Sold Property Analysis Averages
99.6%
Homes sold for an average of 99.6% of their list price.
8
Days on market
It took an average of 8 days for a home to sell.
Analysis ADDRESS
ORIG LIST PRICE
SOLD PRICE
% OF ORIG LIST PRICE
DOM
$ PER SQFT
2803 Parker Ave
$435,000
$435,000
100.00%
8
$507
2908 Dawson Ave
$430,000
$445,000
103.49%
6
$343
11418 Sherrie Ln
$469,990
$465,000
98.94%
10
$415
$444,996
$448,333
100.75%
8
$422
Averages
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
23
Comparative Market Analysis
11403 Monterrey Drive, Silver Spring, Maryland 20902
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 finishes Features such as outdoor kitchens and spa baths make a home more luxurious. A home finished with hardwood floors 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 flowers 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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