Updated Penthouse Residential Income
For Sale
$285,000
1118-J SPALDING DRIVE Unit 33, Bel Air, MD 21014
Third-floor condo with two bedrooms, two updated full bathrooms, and a private balcony.
Property Size1,330 SF
Days on Market50
Property Features for 1118-J SPALDING DRIVE Unit 33
General Information
Standard status
Active
Size
1,330 SF
Elevators
Yes
Property subtype
Penthouse Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$2,616
Amenities
private balcony
stone fireplace
updated kitchen
updated bathrooms
walk-in closets
Building Details
Building Size
1,330 SF
Year Built
2004
Listing Agency:
American Premier Realty, LLC
Listed By:
Sandra L Hopkins · License #6685
(410) 937-0609
Source:
Bradkappel
Added: Sep 10
Changed: Oct 25
Last Checked: Oct 28 at 1:29PM
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 American Premier Realty, LLC
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Investment Insights
Based on property information with market context.
This third-floor penthouse condo, built in 2004, offers more than 1,300 square feet of updated living space. Its open layout connects the living, dining, and kitchen areas, with 9-foot and vaulted ceilings, recessed lighting, crown and chair molding, decorative columns, and updated flooring. A floor-to-ceiling stone fireplace with hearth anchors the main living area, while the kitchen includes quartz countertops.
Two bedrooms are positioned on opposite sides of the residence, complemented by two updated full bathrooms, walk-in closets, and additional storage. A private balcony extends the living area outdoors. The building includes elevator access, and a newer water heater adds to the property's practical features. The condo is located in Bel Air near shopping, dining, recreation, and commuter routes.
Two bedrooms are positioned on opposite sides of the residence, complemented by two updated full bathrooms, walk-in closets, and additional storage. A private balcony extends the living area outdoors. The building includes elevator access, and a newer water heater adds to the property's practical features. The condo is located in Bel Air near shopping, dining, recreation, and commuter routes.
Key Highlights
- More than 1,300 square feet of updated living space
- Third‑floor penthouse condo with private balcony
- Two bedrooms and two updated full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,810
Cap Rate
6.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$356,200
$356.2K
Cap Rate 7%
$254,429
$254.4K
Cap Rate 9%
$197,889
$197.9K
Market Conditions
NOI Build-Up for 1,330 SF
Gross rent
$34.6K $26.04/SF
− Vacancy
−$2.3K −$1.69/SF
EGI
$32.4K $24.35/SF
− OpEx
−$14.6K −$10.96/SF
NOI
$17.8K $13.39/SF
Area
Harford County, MD
Vacancy
6.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$356,200
Cap Rate 7%
$254,429
Cap Rate 9%
$197,889
Alternative Uses
Best Use
Apartment 5plus
$254.4K
$222.6K – $296.8K
NOI $17,810 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$468.0K
$409.5K – $546.0K
NOI $32,758 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
Explore this area
Business Placement
Demographics for 21014, MD
38,395
Population
14,975
Households
2.6
Avg Household Size
41
Median Age
45%
College-Educated
94%
High-School Grad
13.9 sq mi
ZIP Area
2,762
Density / Sq Mi
$113,825
Median Household Income
$59,656
Median Earnings
$1,571
Median Rent
$407,800
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - Third-floor condo with two bedrooms, two updated full bathrooms, and a private balcony.
Where is this residential income property located?
The property is located at 1118-J SPALDING DRIVE Unit 33 Bel Air, MD.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: More than 1,300 square feet of updated living space; Third‑floor penthouse condo with private balcony; Two bedrooms and two updated full bathrooms
