Building Details

Building Size 1,400 SF

Year Built 2019

Listing Agency: Charis Realty Group

Listed By: Blake L Haegele · License #681744 Show Phone

Source: Catoctinproperties

Added: Oct 24 Changed: Oct 31 Last Checked: Oct 31 at 5:59AM

Report an Issue

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 Charis Realty Group

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 1,400-square-foot condominium in a 2019-built building has two bedrooms, two full bathrooms, and an open floor plan. Fresh paint and granite kitchen countertops complement the living area, while a private balcony extends the space outdoors. The building also has an elevator, and water and sewer are included in the condo fee.

Located in the Lake Linganore community in New Market, the residence has access to community pools, lakes, beaches, trails, playgrounds, and basketball and tennis courts. Shopping, restaurants, parks, and historic downtown New Market are also noted nearby, with I-70 providing a commuter route.

Key Highlights

• 1,400 square feet with two bedrooms and two full bathrooms
• Built in 2019; building includes an elevator
• Private balcony and kitchen with granite countertops

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,048

Cap Rate

5.44%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$380,960 $381.0K

Cap Rate 7%

$272,114 $272.1K

Cap Rate 9%

$211,644 $211.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,400 SF

Gross rent

$36.5K $26.04/SF

− Vacancy

−$1.8K −$1.30/SF

EGI

$34.6K $24.74/SF

− OpEx

−$15.6K −$11.13/SF

NOI

$19.0K $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%

$380,960

Cap Rate 7%

$272,114

Cap Rate 9%

$211,644

Alternative Uses

Best Use

Apartment 5plus

$272.1K

$238.1K – $317.5K (±1% cap)

NOI $19,048 @ 7.0% cap · market cap 5.44%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$518.8K

$453.9K – $605.2K (±1% cap)

NOI $36,314 @ 7.0% cap · market cap 10.38%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

1

Residential units

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

29

Businesses Nearby

Explore this area Business Placement

Demographics for 21774, MD

15,496

Population

5,503

Households

2.8

Avg Household Size

37

Median Age

61%

College-Educated

96%

High-School Grad

14.2 sq mi

ZIP Area

1,091

Density / Sq Mi

$171,875

Median Household Income

$77,808

Median Earnings

$2,322

Median Rent

$508,100

Median Home Value

Frequently Asked Questions

What type of property is this?

Residential income property - A 2019-built, two-bedroom home pairs an open layout with granite kitchen counters and access to Lake Linganore amenities.

Where is this residential income property located?

The property is located at 10280 HOPEWELL STREET Unit 203 New Market, MD.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: 1,400 square feet with two bedrooms and two full bathrooms; Built in 2019; building includes an elevator; Private balcony and kitchen with granite countertops