Residential Income Property with Lake
For Sale
$415,000
10001 WINDSTREAM DRIVE Unit 806, Columbia, MD 21044
Eighth-floor condominium with two bedrooms, two baths, a private balcony, and access to shared recreational amenities.
Property Size1,440 SF
Days on Market18
Property Features for 10001 WINDSTREAM DRIVE Unit 806
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,192
Amenities
secured building
attached garage parking
clubhouse
exercise room
pool
additional storage
private balcony
walk-in closet
whirlpool tub
Building Details
Building Size
1,440 SF
Year Built
1990
Listing Agency:
Samson Properties
(240) 378-0700
Listed By:
Angela Parrish · License #672915
(240) 378-0700
Source:
Thehulsmangroup
Added: Aug 15
Changed: Aug 30
Last Checked: Aug 31 at 9:35PM
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 Samson Properties
Investment Insights
Based on property information with market context.
This residential income property is an eighth-floor condominium built in 1990, offering two bedrooms, two full baths, and views across Wilde Lake and adjacent parkland. The interior includes an open living and dining area, a galley kitchen with double wall ovens, extensive storage, and a primary suite with a walk-in closet and whirlpool tub. A private balcony extends the living area outdoors.
The secured building provides attached garage parking and additional storage. Community facilities include a clubhouse, exercise room, and pool. The property is near The Mall in Columbia, restaurants, retail, walking trails, recreation, and major commuter routes.
The secured building provides attached garage parking and additional storage. Community facilities include a clubhouse, exercise room, and pool. The property is near The Mall in Columbia, restaurants, retail, walking trails, recreation, and major commuter routes.
Key Highlights
- Eighth‑floor condominium with panoramic views of Wilde Lake and surrounding parkland
- Two bedrooms and two full baths with an open living and dining area
- Galley kitchen equipped with double wall ovens
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
$18,721
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
4.51%
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%
$374,420
$374.4K
Cap Rate 7%
$267,443
$267.4K
Cap Rate 9%
$208,011
$208.0K
Market Conditions
NOI Build-Up for 1,440 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
$36.3K $25.20/SF
− Vacancy
−$2.2K −$1.56/SF
EGI
$34.0K $23.64/SF
− OpEx
−$15.3K −$10.64/SF
NOI
$18.7K $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%
$374,420
Cap Rate 7%
$267,443
Cap Rate 9%
$208,011
Alternative Uses
Best Use
Apartment 5plus
$267.4K
$234.0K – $312.0K
NOI $18,721 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$457.8K
$400.6K – $534.1K
NOI $32,047 @ 7.0% cap · market cap 7.72%
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 - Eighth-floor condominium with two bedrooms, two baths, a private balcony, and access to shared recreational amenities.
Where is this residential income property located?
The property is located at 10001 WINDSTREAM DRIVE Unit 806 Columbia, MD.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Eighth‑floor condominium with panoramic views of Wilde Lake and surrounding parkland; Two bedrooms and two full baths with an open living and dining area; Galley kitchen equipped with double wall ovens
