Three-Bedroom Residential Income
For Sale
$450,000
10001 WINDSTREAM DRIVE E Unit 505, Columbia, MD 21044
Three-bedroom residence with private storage, covered parking, and access to community amenities near Columbia shopping and entertainment.
Property Size1,580 SF
Days on Market21
Property Features for 10001 WINDSTREAM DRIVE E Unit 505
General Information
Standard status
Active
Size
1,580 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,656
Amenities
in-unit laundry room
private storage units
secure building access
community pool
scenic walking paths
Building Details
Building Size
1,580 SF
Year Built
1990
Listing Agency:
EXP Realty, LLC
(443) 472-1139
Listed By:
Blake James · License #5003233
(443) 472-1139
Source:
Thehulsmangroup
Added: Aug 12
Changed: Aug 31
Last Checked: Aug 30 at 10:15PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 1990 residential income property is a three-bedroom, two-full-bath residence with a practical layout that includes separate living and dining areas, a galley kitchen, and an in-unit laundry room. The primary suite is accompanied by two additional bedrooms that can support guest accommodations or office use. Treetop views overlook Wilde Lake, while natural light and mature landscaping contribute to the interior and exterior setting. The property includes one covered garage parking space and two private storage units within the building.
Residents have access to secure building entry, park-like grounds, an outdoor community pool, and walking paths. Columbia Mall, the Merriweather District, restaurants, shopping, entertainment, and Wilde Lake trails are nearby, with access to major commuter routes also noted.
Residents have access to secure building entry, park-like grounds, an outdoor community pool, and walking paths. Columbia Mall, the Merriweather District, restaurants, shopping, entertainment, and Wilde Lake trails are nearby, with access to major commuter routes also noted.
Key Highlights
- Three‑bedroom, two‑full‑bath residence built in 1990
- One covered garage parking space included
- Two private storage units within the building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,541
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$410,820
$410.8K
Cap Rate 7%
$293,443
$293.4K
Cap Rate 9%
$228,233
$228.2K
Market Conditions
NOI Build-Up for 1,580 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$39.8K $25.20/SF
− Vacancy
−$2.5K −$1.56/SF
EGI
$37.3K $23.64/SF
− OpEx
−$16.8K −$10.64/SF
NOI
$20.5K $13.00/SF
Area
Columbia, MD
Vacancy
6.20%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$410,820
Cap Rate 7%
$293,443
Cap Rate 9%
$228,233
Alternative Uses
Best Use
Apartment 5plus
$293.4K
$256.8K – $342.4K
NOI $20,541 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$502.3K
$439.5K – $586.0K
NOI $35,162 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,264
Businesses Nearby
Explore this area
Business Placement
Demographics for 21044, MD
44,284
Population
19,776
Households
2.2
Avg Household Size
39
Median Age
67%
College-Educated
96%
High-School Grad
11.9 sq mi
ZIP Area
3,721
Density / Sq Mi
$132,924
Median Household Income
$69,565
Median Earnings
$2,096
Median Rent
$541,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom residence with private storage, covered parking, and access to community amenities near Columbia shopping and entertainment.
Where is this residential income property located?
The property is located at 10001 WINDSTREAM DRIVE E Unit 505 Columbia, MD.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Three‑bedroom, two‑full‑bath residence built in 1990; One covered garage parking space included; Two private storage units within the building
