Updated Residential Income
For Sale
$244,900
1305 SHERIDAN PLACE, Bel Air, MD 21015
Interior flooring, paint, and the water heater have been recently replaced.
Property Size1,150 SF
Price / SF$212.96
Days on Market85
Property Features for 1305 SHERIDAN PLACE
General Information
Standard status
Active
Size
1,150 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,071
Amenities
swimming pool
tennis courts
Building Details
Building Size
1,150 SF
Year Built
1994
Listing Agency:
Keller Williams Gateway LLC
Listed By:
Danielle Waldera · License #667985
(443) 257-0442
Source:
Ghimirehomes
Added: Aug 6
Changed: Oct 26
Last Checked: Oct 26 at 2:18PM
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 Keller Williams Gateway LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,150-square-foot condominium was built in 1994 and has received interior updates, including new carpet, luxury vinyl plank flooring, fresh paint, and a replacement water heater. Access to the front door involves one short flight of stairs.
Residents have access to a community swimming pool and tennis courts. The property is in Bel Air, Maryland, with shopping, dining, parks, and commuter routes described as minutes away.
Residents have access to a community swimming pool and tennis courts. The property is in Bel Air, Maryland, with shopping, dining, parks, and commuter routes described as minutes away.
Key Highlights
- 1,150‑square‑foot condominium built in 1994
- Updated with new carpet, luxury vinyl plank flooring, fresh paint, and a new water heater
- Community swimming pool and tennis courts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,400
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$308,000
$308.0K
Cap Rate 7%
$220,000
$220.0K
Cap Rate 9%
$171,111
$171.1K
Market Conditions
NOI Build-Up for 1,150 SF
Gross rent
$29.9K $26.04/SF
− Vacancy
−$1.9K −$1.69/SF
EGI
$28.0K $24.35/SF
− OpEx
−$12.6K −$10.96/SF
NOI
$15.4K $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%
$308,000
Cap Rate 7%
$220,000
Cap Rate 9%
$171,111
Alternative Uses
Best Use
Apartment 5plus
$220.0K
$192.5K – $256.7K
NOI $15,400 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$404.6K
$354.1K – $472.1K
NOI $28,325 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Explore this area
Business Placement
Demographics for 21015, MD
30,400
Population
11,584
Households
2.6
Avg Household Size
41
Median Age
52%
College-Educated
96%
High-School Grad
31.2 sq mi
ZIP Area
974
Density / Sq Mi
$137,219
Median Household Income
$70,302
Median Earnings
$1,730
Median Rent
$418,400
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - Interior flooring, paint, and the water heater have been recently replaced.
Where is this residential income property located?
The property is located at 1305 SHERIDAN PLACE Bel Air, MD.
What is the asking price?
The asking price for this property is $244,900.
What are key features of this property?
This property features: 1,150‑square‑foot condominium built in 1994; Updated with new carpet, luxury vinyl plank flooring, fresh paint, and a new water heater; Community swimming pool and tennis courts
