Historic Condominium
New
For Sale
$825,000
100 E SECOND STREET Unit 1, Frederick, MD 21701
The three-bedroom home has elevator access, two walk-in closets, and two assigned parking spaces.
Property Size1,881 SF
Days on Market3
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Property Features for 100 E SECOND STREET Unit 1
General Information
Standard status
Active
Size
1,881 SF
Total Parking Spaces
2
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$12,871
Amenities
private covered rear porch
walled garden
courtyard
assigned storage area
Building Details
Building Size
1,881 SF
Year Built
2000
Construction
Federal
Listing Agency:
RE/MAX Results
Listed By:
Kimberly Hotaling · License #618204
(301) 788-5099
Source:
Barnesrealestatecompany
Added: Oct 13
Changed: Oct 15
Last Checked: Oct 15 at 1:59AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Results
Investment Insights
Based on property information with market context.
Set within a Federal-style townhome dating to the early 1820s, this main-level condominium combines preserved period details with later updates. The residence has three bedrooms, including a primary suite with a sitting area, two walk-in closets, built-in storage, and an en-suite bathroom. The living area features original hardwood floors, 11-foot ceilings, cove moldings, 7-over-1 windows with privacy shutters, and marble fireplaces. A gourmet kitchen and updated hall bathroom complete the interior. Recent work includes refinished floors, fresh interior and porch paint, updated kitchen appliances and lighting, and a renovated hall bathroom.
The original home was divided into four condominiums in 2000. A private covered rear porch opens to a walled garden and courtyard. The property is in Frederick’s Historic District and Historic Preservation Overlay, with applicable committee rules and guidelines. A detached garage converted from the original carriage house is shared; Unit 1 has two assigned parking spaces and a separate assigned storage area. Stairs or an elevator connect the unit to the lower level.
The original home was divided into four condominiums in 2000. A private covered rear porch opens to a walled garden and courtyard. The property is in Frederick’s Historic District and Historic Preservation Overlay, with applicable committee rules and guidelines. A detached garage converted from the original carriage house is shared; Unit 1 has two assigned parking spaces and a separate assigned storage area. Stairs or an elevator connect the unit to the lower level.
Key Highlights
- Three‑bedroom main‑level condominium with elevator access
- Two assigned parking spaces and an assigned storage area
- Primary suite includes two walk‑in closets, built‑in storage, and an en‑suite bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,593
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$511,860
$511.9K
Cap Rate 7%
$365,614
$365.6K
Cap Rate 9%
$284,367
$284.4K
Market Conditions
NOI Build-Up for 1,881 SF
Gross rent
$49.0K $26.04/SF
− Vacancy
−$2.4K −$1.30/SF
EGI
$46.5K $24.74/SF
− OpEx
−$20.9K −$11.13/SF
NOI
$25.6K $13.61/SF
Area
Frederick County, MD
Vacancy
5.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$511,860
Cap Rate 7%
$365,614
Cap Rate 9%
$284,367
Alternative Uses
Best Use
Apartment 5plus
$365.6K
$319.9K – $426.6K
NOI $25,593 @ 7.0% cap · market cap 3.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$697.0K
$609.9K – $813.2K
NOI $48,790 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,255
Businesses Nearby
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Business Placement
Demographics for 21701, MD
39,629
Population
18,914
Households
2.1
Avg Household Size
40
Median Age
50%
College-Educated
95%
High-School Grad
39.7 sq mi
ZIP Area
998
Density / Sq Mi
$102,306
Median Household Income
$59,381
Median Earnings
$1,607
Median Rent
$404,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The three-bedroom home has elevator access, two walk-in closets, and two assigned parking spaces.
Where is this residential income property located?
The property is located at 100 E SECOND STREET Unit 1 Frederick, MD.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Three‑bedroom main‑level condominium with elevator access; Two assigned parking spaces and an assigned storage area; Primary suite includes two walk‑in closets, built‑in storage, and an en‑suite bathroom
