Top-Floor Residential Income
For Sale
$189,900
109 CROSS KEYS ROAD Unit R109F, Baltimore, MD 21210
Condominium residence with updated interiors, private outdoor space, covered parking, and access to community recreation amenities.
Property Size821 SF
Days on Market34
Property Features for 109 CROSS KEYS ROAD Unit R109F
General Information
Standard status
Active
Size
821 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$3,421
Building Details
Building Size
821 SF
Year Built
1970
Listing Agency:
Coldwell Banker Realty
Listed By:
Shelley L Walter · License #680973
(717) 968-1923
Source:
Thehulsmangroup
Added: Aug 3
Changed: Sep 2
Last Checked: Sep 4 at 9:33AM
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 Realty
Investment Insights
Based on property information with market context.
This top-floor condominium is part of a residential income property built in 1970. The residence has hardwood flooring, an updated kitchen and bathroom, and a private balcony oriented toward tree views in a park-like setting. An in-unit washer and dryer, additional storage, and deeded covered parking directly beneath the building add practical convenience.
Community amenities include swimming pools, tennis courts, and walking trails. The property is also described as being near cafes and shops within a village-style setting.
Community amenities include swimming pools, tennis courts, and walking trails. The property is also described as being near cafes and shops within a village-style setting.
Key Highlights
- Top‑floor condominium with private balcony and tree views
- Updated kitchen and bathroom with hardwood flooring
- In‑unit washer and dryer included
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
$10,696
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
5.63%
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%
$213,920
$213.9K
Cap Rate 7%
$152,800
$152.8K
Cap Rate 9%
$118,844
$118.8K
Market Conditions
NOI Build-Up for 821 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
$20.7K $25.20/SF
− Vacancy
−$1.2K −$1.51/SF
EGI
$19.4K $23.69/SF
− OpEx
−$8.8K −$10.66/SF
NOI
$10.7K $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 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%
$213,920
Cap Rate 7%
$152,800
Cap Rate 9%
$118,844
Alternative Uses
Best Use
Apartment 5plus
$152.8K
$133.7K – $178.3K
NOI $10,696 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$196.7K
$172.1K – $229.5K
NOI $13,768 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
865
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with updated interiors, private outdoor space, covered parking, and access to community recreation amenities.
Where is this residential income property located?
The property is located at 109 CROSS KEYS ROAD Unit R109F Baltimore, MD.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Top‑floor condominium with private balcony and tree views; Updated kitchen and bathroom with hardwood flooring; In‑unit washer and dryer included
