Updated Residential Income
New
For Sale
$225,000
10594 TWIN RIVERS ROAD Unit D-2, Columbia, MD 21044
Two-bedroom home with renovated kitchen, upgraded baths, hardwood floors, and a wood-burning fireplace.
Property Size963 SF
Days on Market3
Property Features for 10594 TWIN RIVERS ROAD Unit D-2
General Information
Standard status
Active
Size
963 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,502
Amenities
wood-burning fireplace
Building Details
Building Size
963 SF
Year Built
1975
Listing Agency:
Samson Properties
(410) 995-9600
Listed By:
Robert J Chew · License #575539
(410) 995-9600
Source:
Thehulsmangroup
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 21 at 11:28AM
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 Samson Properties
Investment Insights
Based on property information with market context.
This residential income property is a two-bedroom, one-and-a-half-bath home built in 1975. Interior improvements include Brazilian cherry hardwood flooring, a wood-burning fireplace, and a renovated kitchen completed in 2021. The kitchen incorporates quartz countertops, a backsplash, and stainless steel appliances.
Both bathrooms feature upgraded tile and stone finishes, including brushed marble flooring and wall tile, marble detailing, and travertine surfaces. The dedicated shower area includes full-height tumbled travertine tile and two built-in shelves. The property has been maintained over more than 30 years of ownership.
Both bathrooms feature upgraded tile and stone finishes, including brushed marble flooring and wall tile, marble detailing, and travertine surfaces. The dedicated shower area includes full-height tumbled travertine tile and two built-in shelves. The property has been maintained over more than 30 years of ownership.
Key Highlights
- 2‑bedroom, 1.5‑bath home built in 1975
- Kitchen renovation completed in 2021
- Quartz countertops and stainless steel appliances
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
$12,520
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
5.56%
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%
$250,400
$250.4K
Cap Rate 7%
$178,857
$178.9K
Cap Rate 9%
$139,111
$139.1K
Market Conditions
NOI Build-Up for 963 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
$24.3K $25.20/SF
− Vacancy
−$1.5K −$1.56/SF
EGI
$22.8K $23.64/SF
− OpEx
−$10.2K −$10.64/SF
NOI
$12.5K $13.00/SF
Area
Columbia, MD
Vacancy
6.20%
Lease Rate
$25.20 /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%
$250,400
Cap Rate 7%
$178,857
Cap Rate 9%
$139,111
Alternative Uses
Best Use
Apartment 5plus
$178.9K
$156.5K – $208.7K
NOI $12,520 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$306.2K
$267.9K – $357.2K
NOI $21,431 @ 7.0% cap · market cap 9.52%
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
1,982
Businesses Nearby
Explore this area
Business Placement
Demographics for 21044, MD
44,284
Population
19,776
Households
2.2
Avg Household Size
39
Median Age
67%
College-Educated
96%
High-School Grad
11.9 sq mi
ZIP Area
3,721
Density / Sq Mi
$132,924
Median Household Income
$69,565
Median Earnings
$2,096
Median Rent
$541,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom home with renovated kitchen, upgraded baths, hardwood floors, and a wood-burning fireplace.
Where is this residential income property located?
The property is located at 10594 TWIN RIVERS ROAD Unit D-2 Columbia, MD.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 2‑bedroom, 1.5‑bath home built in 1975; Kitchen renovation completed in 2021; Quartz countertops and stainless steel appliances
