Residential Income
For Sale
$530,000
10520 RESORT ROAD Unit 309, Ellicott City, MD 21042
Unit 309 is part of a 2018-built residential income property.
Property Size1,439 SF
Days on Market10
Property Features for 10520 RESORT ROAD Unit 309
General Information
Standard status
Active
Size
1,439 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,041
Building Details
Building Size
1,439 SF
Year Built
2018
Listing Agency:
Keller Williams Lucido Agency
(410) 465-6900
Listed By:
Robert J Lucido · License #4037
(410) 465-6900
Source:
Thehulsmangroup
Added: Jul 31
Changed: Aug 8
Last Checked: Aug 8 at 9:38AM
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 Keller Williams Lucido Agency
Investment Insights
Based on property information with market context.
Unit 309 is a residential income property at 10520 Resort Road in Ellicott City, Maryland. The property was built in 2018.
Key Highlights
- Unit 309 at 10520 Resort Road, Ellicott City, MD 21042
- Year built: 2018
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
$19,620
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
3.70%
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%
$392,400
$392.4K
Cap Rate 7%
$280,286
$280.3K
Cap Rate 9%
$218,000
$218.0K
Market Conditions
NOI Build-Up for 1,439 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
$37.5K $26.04/SF
− Vacancy
−$1.8K −$1.25/SF
EGI
$35.7K $24.79/SF
− OpEx
−$16.1K −$11.16/SF
NOI
$19.6K $13.63/SF
Area
Howard County, MD
Vacancy
4.80%
Lease Rate
$26.04 /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%
$392,400
Cap Rate 7%
$280,286
Cap Rate 9%
$218,000
Alternative Uses
Best Use
Apartment 5plus
$280.3K
$245.3K – $327.0K
NOI $19,620 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$533.7K
$467.0K – $622.6K
NOI $37,356 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
Explore this area
Business Placement
Demographics for 21042, MD
43,147
Population
15,269
Households
2.8
Avg Household Size
43
Median Age
75%
College-Educated
98%
High-School Grad
37.0 sq mi
ZIP Area
1,166
Density / Sq Mi
$190,504
Median Household Income
$94,089
Median Earnings
$2,253
Median Rent
$674,700
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Unit 309 is part of a 2018-built residential income property.
Where is this residential income property located?
The property is located at 10520 RESORT ROAD Unit 309 Ellicott City, MD.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Unit 309 at 10520 Resort Road, Ellicott City, MD 21042; Year built: 2018
