2-Bedroom Waterfront
For Sale
$459,000
105 N WATER STREET Unit 3, Chestertown, MD 21620
Second-floor residence includes a private boat slip and patio overlooking the Chester River.
Property Size1,098 SF
Price / SF$418.03
Days on Market37
Property Features for 105 N WATER STREET Unit 3
General Information
Standard status
Active
Size
1,098 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,052
Amenities
private boat slip
spacious patio
Building Details
Building Size
1,098 SF
Year Built
1900
Buildings
1
Listing Agency:
Coldwell Banker Chesapeake Real Estate Company
Listed By:
Lisa P Raffetto · License #307308
(410) 708-0174
Source:
Chesapeakebayproperties
Added: Sep 24
Changed: Oct 26
Last Checked: Oct 26 at 2:39PM
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 Coldwell Banker Chesapeake Real Estate Company
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Investment Insights
Based on property information with market context.
This second-floor waterfront condominium offers 2 bedrooms and 2 full baths across 1,098 square feet. A private boat slip at the end of the dock is included, and the residence features a patio with views of the Chester River. Built in 1900, the property is located in historic Chestertown, Maryland.
Key Highlights
- 1,098‑square‑foot residence with 2 bedrooms and 2 full baths
- Private boat slip at the end of the dock
- Patio with views of the Chester River
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,457
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$289,140
$289.1K
Cap Rate 7%
$206,529
$206.5K
Cap Rate 9%
$160,633
$160.6K
Market Conditions
NOI Build-Up for 1,098 SF
Gross rent
$27.7K $25.20/SF
− Vacancy
−$1.4K −$1.26/SF
EGI
$26.3K $23.94/SF
− OpEx
−$11.8K −$10.77/SF
NOI
$14.5K $13.17/SF
Area
Queen Anne's County, MD
Vacancy
5.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$289,140
Cap Rate 7%
$206,529
Cap Rate 9%
$160,633
Alternative Uses
Best Use
Apartment 5plus
$206.5K
$180.7K – $241.0K
NOI $14,457 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$263.1K
$230.2K – $306.9K
NOI $18,414 @ 7.0% cap · market cap 4.01%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
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Business Placement
Demographics for 21620, MD
12,726
Population
6,259
Households
2
Avg Household Size
46
Median Age
43%
College-Educated
93%
High-School Grad
118.7 sq mi
ZIP Area
107
Density / Sq Mi
$76,094
Median Household Income
$39,432
Median Earnings
$1,149
Median Rent
$318,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor residence includes a private boat slip and patio overlooking the Chester River.
Where is this residential income property located?
The property is located at 105 N WATER STREET Unit 3 Chestertown, MD.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: 1,098‑square‑foot residence with 2 bedrooms and 2 full baths; Private boat slip at the end of the dock; Patio with views of the Chester River
