Residential Income Property with
For Sale
$387,000
1040 DEER RIDGE DRIVE Unit 300, Baltimore, MD 21210
A renovated condominium combines an open layout, private outdoor space, and reserved garage parking.
Property Size2,333 SF
Price / SF$165.88
Days on Market14
Property Features for 1040 DEER RIDGE DRIVE Unit 300
General Information
Standard status
Active
Size
2,333 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,275
Amenities
private balconies
guest parking
storage
Building Details
Building Size
2,333 SF
Year Built
1985
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
Listed By:
JoAnne E Poole · License #17374
(410) 913-9925
Source:
Thehulsmangroup
Added: Sep 22
Changed: Oct 3
Last Checked: Oct 4 at 2:27PM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
Built in 1985, this Baltimore condominium offers 2,333 square feet with three bedrooms and 2.5 bathrooms. Its open-concept plan includes a kitchen with an island and breakfast bar, hardwood floors, floor-to-ceiling windows, and two private balconies. The primary bedroom has direct access to one balcony. Flooring, lighting, paint, and the kitchen were updated in 2023. Two reserved garage spaces, guest parking, and additional storage are included.
The property is in the Roland Park area of Baltimore, with dining and shopping in the surrounding community.
The property is in the Roland Park area of Baltimore, with dining and shopping in the surrounding community.
Key Highlights
- 2,333‑square‑foot condominium with three bedrooms and 2.5 bathrooms
- Two private balconies, including one accessed from the primary bedroom
- Kitchen, flooring, lighting, and paint updated in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,395
Cap Rate
7.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$607,900
$607.9K
Cap Rate 7%
$434,214
$434.2K
Cap Rate 9%
$337,722
$337.7K
Market Conditions
NOI Build-Up for 2,333 SF
Gross rent
$58.8K $25.20/SF
− Vacancy
−$3.5K −$1.51/SF
EGI
$55.3K $23.69/SF
− OpEx
−$24.9K −$10.66/SF
NOI
$30.4K $13.03/SF
Area
Baltimore, MD
Vacancy
6.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$607,900
Cap Rate 7%
$434,214
Cap Rate 9%
$337,722
Alternative Uses
Best Use
Apartment 5plus
$434.2K
$379.9K – $506.6K
NOI $30,395 @ 7.0% cap · market cap 7.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$558.9K
$489.1K – $652.1K
NOI $39,125 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,054
Businesses Nearby
Explore this area
Business Placement
Demographics for 21210, MD
14,441
Population
5,416
Households
2.7
Avg Household Size
32
Median Age
83%
College-Educated
98%
High-School Grad
3.4 sq mi
ZIP Area
4,247
Density / Sq Mi
$108,929
Median Household Income
$43,474
Median Earnings
$1,498
Median Rent
$521,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A renovated condominium combines an open layout, private outdoor space, and reserved garage parking.
Where is this residential income property located?
The property is located at 1040 DEER RIDGE DRIVE Unit 300 Baltimore, MD.
What is the asking price?
The asking price for this property is $387,000.
What are key features of this property?
This property features: 2,333‑square‑foot condominium with three bedrooms and 2.5 bathrooms; Two private balconies, including one accessed from the primary bedroom; Kitchen, flooring, lighting, and paint updated in 2023
