Corner Residential Income
New
For Sale
$180,000
121 CROSS KEYS ROAD Unit R121D, Baltimore, MD 21210
Second-floor condominium with abundant natural light, private balcony, updated kitchen, and in-unit laundry.
Property Size821 SF
Days on Market3
Property Features for 121 CROSS KEYS ROAD Unit R121D
General Information
Standard status
Active
Size
821 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,421
Amenities
community pool
tennis courts
in-unit laundry
private balcony
on-site storage unit
Building Details
Building Size
821 SF
Year Built
1979
Listing Agency:
Guerilla Realty LLC
Listed By:
Rachel L Rabinowitz · License #628217
(443) 841-5916
Source:
Thehulsmangroup
Added: Sep 3
Changed: Sep 4
Last Checked: Sep 4 at 3:21PM
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 Guerilla Realty LLC
Investment Insights
Based on property information with market context.
This second-floor, one-bedroom condominium is positioned at a corner of the community, with windows on three sides and an open living and dining arrangement. The updated kitchen connects to the main living area, while floor-to-ceiling glass sliders lead to a private balcony facing the community pool. The residence also includes a modern bathroom, a walk-in closet, and laundry equipment located within the bedroom.
Residents have access to multiple community pools and tennis courts, along with dining, retail, boutique fitness, and spa services at the Village Shops. The pet-friendly condominium community provides unassigned parking in front of the building, and the condominium fee includes water. An on-site storage unit is included with the sale. The building was constructed in 1979.
Residents have access to multiple community pools and tennis courts, along with dining, retail, boutique fitness, and spa services at the Village Shops. The pet-friendly condominium community provides unassigned parking in front of the building, and the condominium fee includes water. An on-site storage unit is included with the sale. The building was constructed in 1979.
Key Highlights
- One‑bedroom, second‑floor corner condominium with windows on three sides
- Private balcony overlooking the community pool
- Updated kitchen with open living and dining area
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
5.94%
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 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$196.7K
$172.1K – $229.5K
NOI $13,768 @ 7.0% cap · market cap 7.65%
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
846
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 - Second-floor condominium with abundant natural light, private balcony, updated kitchen, and in-unit laundry.
Where is this residential income property located?
The property is located at 121 CROSS KEYS ROAD Unit R121D Baltimore, MD.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: One‑bedroom, second‑floor corner condominium with windows on three sides; Private balcony overlooking the community pool; Updated kitchen with open living and dining area
