55+ Elevator
For Sale
$275,000
117 NICHOLS STREET Unit F, Bel Air, MD 21014
The two-bedroom layout includes a sunroom, private balcony, and private backyard.
Property Size1,335 SF
Price / SF$205.99
Days on Market63
Property Features for 117 NICHOLS STREET Unit F
General Information
Standard status
Active
Size
1,335 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,563
Building Details
Building Size
1,335 SF
Year Built
2006
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Michael S Phipps · License #500790
(410) 676-2229
Source:
Ghimirehomes
Added: Aug 28
Changed: Oct 28
Last Checked: Oct 26 at 2:55PM
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 Long & Foster Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This 1,335-square-foot condominium was built in 2006 and is located on the second floor of a 55+ building with elevator service. The two-bedroom, two-bath layout places the bedrooms at opposite ends of the residence. A living and dining area shares a gas fireplace with a marble surround, while the kitchen features granite counters, white cabinetry, stainless steel appliances, and a breakfast bar. Hardwood floors extend through the foyer and living areas. The primary bedroom has a walk-in tiled shower, double vanity, and multiple closets. A sunroom provides access to a private balcony and backyard.
The residence is on Nichols Street in Bel Air, Maryland, with the Ma & Pa Trail and local restaurants within walking distance. HVAC was replaced in December 2018.
The residence is on Nichols Street in Bel Air, Maryland, with the Ma & Pa Trail and local restaurants within walking distance. HVAC was replaced in December 2018.
Key Highlights
- 55+ condominium with elevator access on the second floor
- 1,335 square feet; built in 2006
- Two bedrooms and two bathrooms positioned at opposite ends of the unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,877
Cap Rate
6.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$357,540
$357.5K
Cap Rate 7%
$255,386
$255.4K
Cap Rate 9%
$198,633
$198.6K
Market Conditions
NOI Build-Up for 1,335 SF
Gross rent
$34.8K $26.04/SF
− Vacancy
−$2.3K −$1.69/SF
EGI
$32.5K $24.35/SF
− OpEx
−$14.6K −$10.96/SF
NOI
$17.9K $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%
$357,540
Cap Rate 7%
$255,386
Cap Rate 9%
$198,633
Alternative Uses
Best Use
Apartment 5plus
$255.4K
$223.5K – $298.0K
NOI $17,877 @ 7.0% cap · market cap 6.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$469.7K
$411.0K – $548.0K
NOI $32,881 @ 7.0% cap · market cap 11.96%
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
1,346
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom layout includes a sunroom, private balcony, and private backyard.
Where is this residential income property located?
The property is located at 117 NICHOLS STREET Unit F Bel Air, MD.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 55+ condominium with elevator access on the second floor; 1,335 square feet; built in 2006; Two bedrooms and two bathrooms positioned at opposite ends of the unit
