Top-Floor Residential Income
For Sale
$205,000
103 WATER FOUNTAIN WAY Unit 303, Glen Burnie, MD 21060
Unit 303 offers a private balcony, attic storage, and access to community recreation amenities.
Property Size798 SF
Days on Market25
Property Features for 103 WATER FOUNTAIN WAY Unit 303
General Information
Standard status
Active
Size
798 SF
Property subtype
Penthouse Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$2,337
Building Details
Building Size
798 SF
Year Built
1999
Listing Agency:
Compass
(301) 351-5792
Listed By:
Kimberly K McGrath · License #651423
(301) 351-5792
Source:
Thehulsmangroup
Added: Jul 28
Changed: Aug 20
Last Checked: Aug 21 at 10:39AM
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 Compass
Investment Insights
Based on property information with market context.
Unit 303 is a top-floor residential income property built in 1999, featuring abundant natural light, tall ceilings, updated flooring, and mostly newer appliances. The residence also includes attic storage and a private balcony with a wooded outlook.
Community amenities include a swimming pool, playground, tennis courts, and walking paths. The property is located in Glen Burnie, Maryland, with convenient access to major highways and commuting routes. Its setting also places everyday shopping, coffee, and dining within walking distance, as described for the surrounding area.
Community amenities include a swimming pool, playground, tennis courts, and walking paths. The property is located in Glen Burnie, Maryland, with convenient access to major highways and commuting routes. Its setting also places everyday shopping, coffee, and dining within walking distance, as described for the surrounding area.
Key Highlights
- Top‑floor Unit 303 with tall ceilings and strong natural light
- Attic storage and private balcony with a wooded view
- Mostly newer appliances and updated flooring
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
$10,770
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
5.25%
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%
$215,400
$215.4K
Cap Rate 7%
$153,857
$153.9K
Cap Rate 9%
$119,667
$119.7K
Market Conditions
NOI Build-Up for 798 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
$20.9K $26.16/SF
− Vacancy
−$1.3K −$1.62/SF
EGI
$19.6K $24.54/SF
− OpEx
−$8.8K −$11.04/SF
NOI
$10.8K $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%
$215,400
Cap Rate 7%
$153,857
Cap Rate 9%
$119,667
Alternative Uses
Best Use
Apartment 5plus
$153.9K
$134.6K – $179.5K
NOI $10,770 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$233.4K
$204.3K – $272.3K
NOI $16,340 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
578
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 - Unit 303 offers a private balcony, attic storage, and access to community recreation amenities.
Where is this residential income property located?
The property is located at 103 WATER FOUNTAIN WAY Unit 303 Glen Burnie, MD.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Top‑floor Unit 303 with tall ceilings and strong natural light; Attic storage and private balcony with a wooded view; Mostly newer appliances and updated flooring
