Top-Floor Residential Income
New
For Sale
$209,902
101 THREE COIN WAY Unit 304, Glen Burnie, MD 21060
Two-bedroom condo with vaulted ceilings, fireplace, covered deck, updated kitchen features, and in-home laundry.
Property Size888 SF
Days on Market3
Property Features for 101 THREE COIN WAY Unit 304
General Information
Standard status
Active
Size
888 SF
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,408
Amenities
fireplace
covered deck
in-unit laundry
community pool
Building Details
Building Size
888 SF
Year Built
1999
Listing Agency:
Douglas Realty LLC
(410) 971-8004
Listed By:
James Bowerman · License #664056
(410) 971-8004
Source:
Thehulsmangroup
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 10:20AM
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 Douglas Realty LLC
Investment Insights
Based on property information with market context.
This top-floor residential income property is a two-bedroom condominium with vaulted ceilings and an open living area centered around a fireplace. A glass slider leads to a covered deck, while the kitchen includes upgraded counters, stainless appliances, and bar seating. Laundry is located within the home, and the primary bedroom has a private bath. Brand new HVAC adds a recent mechanical improvement.
The community includes a pool at Cromwell Fountain, with shopping, restaurants, and entertainment located minutes away. Commuter routes are also close by. Built in 1999, the home combines a penthouse-level position with practical features for residential occupancy.
The community includes a pool at Cromwell Fountain, with shopping, restaurants, and entertainment located minutes away. Commuter routes are also close by. Built in 1999, the home combines a penthouse-level position with practical features for residential occupancy.
Key Highlights
- Top‑floor condominium with vaulted ceilings and no residence above
- Two bedrooms, including a primary suite with private bath
- Open living area with fireplace and covered deck access
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
$11,984
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
5.71%
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%
$239,680
$239.7K
Cap Rate 7%
$171,200
$171.2K
Cap Rate 9%
$133,156
$133.2K
Market Conditions
NOI Build-Up for 888 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
$23.2K $26.16/SF
− Vacancy
−$1.4K −$1.62/SF
EGI
$21.8K $24.54/SF
− OpEx
−$9.8K −$11.04/SF
NOI
$12.0K $13.50/SF
Area
Anne Arundel County, MD
Vacancy
6.20%
Lease Rate
$26.16 /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%
$239,680
Cap Rate 7%
$171,200
Cap Rate 9%
$133,156
Alternative Uses
Best Use
Apartment 5plus
$171.2K
$149.8K – $199.7K
NOI $11,984 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$259.8K
$227.3K – $303.1K
NOI $18,183 @ 7.0% cap · market cap 8.66%
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
665
Businesses Nearby
Explore this area
Business Placement
Demographics for 21060, MD
38,269
Population
15,988
Households
2.4
Avg Household Size
37
Median Age
32%
College-Educated
91%
High-School Grad
13.0 sq mi
ZIP Area
2,944
Density / Sq Mi
$99,739
Median Household Income
$57,005
Median Earnings
$1,620
Median Rent
$352,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condo with vaulted ceilings, fireplace, covered deck, updated kitchen features, and in-home laundry.
Where is this residential income property located?
The property is located at 101 THREE COIN WAY Unit 304 Glen Burnie, MD.
What is the asking price?
The asking price for this property is $209,902.
What are key features of this property?
This property features: Top‑floor condominium with vaulted ceilings and no residence above; Two bedrooms, including a primary suite with private bath; Open living area with fireplace and covered deck access
