501 Palmtree Dr Unit 3 Gaithersburg, MD 20878
Estimated payment $2,109/month
Highlights
- Community Pool
- Tennis Courts
- Central Heating and Cooling System
- Fields Road Elementary School Rated A-
About This Home
This beautifully updated 2-bedroom, 2-bath condo in the Park Summit community offers modern comfort and unbeatable convenience in the heart of Gaithersburg. The home features wide-plank flooring throughout, abundant natural light from oversized windows, and a spacious open layout ideal for both everyday living and entertaining.
The renovated kitchen includes quartz countertops, stainless steel LG appliances, a designer tile backsplash, and a breakfast bar with seating. Both bathrooms have been tastefully upgraded with modern fixtures and finishes. The primary suite features a large walk-in closet and en-suite bath, while the second bedroom is perfect for guests or a home office. Full-size in-unit laundry adds extra convenience.
Just minutes from RIO and Downtown Crown, you’ll have easy access to some of Montgomery County’s best shopping, dining, and entertainment. Zoned for Fields Road ES, Ridgeview MS, and Quince Orchard HS, this location is also ideal for commuters with quick access to I-270, I-370, the ICC (MD-200), and Shady Grove Metro.
Ample community parking is available just outside the building, and residents enjoy access to fantastic amenities including a swimming pool, tennis courts, tot lots, and scenic walking trails.
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $2,597
Year Built
- Built in 1987
HOA Fees
- $455 Monthly HOA Fees
Parking
- Parking Lot
Home Design
- Entry on the 1st floor
- Brick Exterior Construction
- Vinyl Siding
Interior Spaces
- 964 Sq Ft Home
- Property has 1 Level
- Washer and Dryer Hookup
Bedrooms and Bathrooms
- 2 Main Level Bedrooms
- 2 Full Bathrooms
Utilities
- Central Heating and Cooling System
- Cooling System Utilizes Natural Gas
- Natural Gas Water Heater
Listing and Financial Details
- Assessor Parcel Number 160902759578
Community Details
Overview
- Association fees include common area maintenance, reserve funds, sewer, snow removal, water, management, lawn maintenance, exterior building maintenance
- Low-Rise Condominium
- Park Summit Codm Community
- Park Summit Codm Subdivision
Amenities
- Recreation Room
Recreation
- Tennis Courts
- Community Playground
- Community Pool
Pet Policy
- No Pets Allowed
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $2,597 | $205,000 | -- | -- |
| 2024 | $2,597 | $195,000 | $0 | $0 |
| 2023 | $2,455 | $185,000 | $55,500 | $129,500 |
| 2022 | $2,225 | $176,667 | $0 | $0 |
| 2021 | $2,194 | $168,333 | $0 | $0 |
| 2020 | $2,081 | $160,000 | $48,000 | $112,000 |
| 2019 | $2,088 | $160,000 | $48,000 | $112,000 |
| 2018 | $2,095 | $160,000 | $48,000 | $112,000 |
| 2017 | $2,280 | $180,000 | $0 | $0 |
| 2016 | -- | $170,000 | $0 | $0 |
| 2015 | $2,277 | $160,000 | $0 | $0 |
| 2014 | $2,277 | $150,000 | $0 | $0 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/11/2025 08/11/25 | For Sale | $269,900 | -- | $280 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $79,900 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $156,000 | Stand Alone Second | |
| Closed | $158,200 | Unknown | |
| Closed | $140,000 | Stand Alone Refi Refinance Of Original Loan |
Source: Bright MLS
MLS Number: MDMC2194338
APN: 09-02759578
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