Residential Income Property with
For Sale
$169,000
14006 KORBA PLACE #3F, Laurel, MD 20707
One-bedroom residence with loft, private balcony, dedicated parking, and convenient access to Laurel-area shopping and transportation.
Property Size699 SF
Price / SF$241.77
Days on Market48
Property Features for 14006 KORBA PLACE #3F
General Information
Standard status
Active
Size
699 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR+loft
Multifamily Units
1
Amenities
private balcony
dedicated parking
Building Details
Year Built
1985
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Christopher M Kelly
(301) 388-2600
Source:
Cummingsrealtors
Added: Sep 6
Changed: Oct 21
Last Checked: Oct 20 at 9:55PM
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 residential income property offers 699 square feet with a one-bedroom layout plus loft, an adjoining kitchen and living room, and a private balcony. The open-concept arrangement provides distinct living space within a compact footprint, while the well-maintained exterior and low-maintenance lot support straightforward upkeep. Dedicated parking is included.
The property is located at 14006 Korba Place in Laurel, near Laurel Shopping Center and Laurel Town Center. Nearby retail and service options include Costco, Lowe’s, Target, Michaels, Best Buy, restaurants, and transportation. Built in 1985, the residence combines a defined sleeping area, flexible loft space, outdoor access, and convenient proximity to established shopping destinations.
The property is located at 14006 Korba Place in Laurel, near Laurel Shopping Center and Laurel Town Center. Nearby retail and service options include Costco, Lowe’s, Target, Michaels, Best Buy, restaurants, and transportation. Built in 1985, the residence combines a defined sleeping area, flexible loft space, outdoor access, and convenient proximity to established shopping destinations.
Key Highlights
- 699 square feet with one bedroom plus a loft
- Private balcony connected to open‑concept living space
- Dedicated parking included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,410
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$188,200
$188.2K
Cap Rate 7%
$134,429
$134.4K
Cap Rate 9%
$104,556
$104.6K
Market Conditions
NOI Build-Up for 699 SF
Gross rent
$18.2K $26.04/SF
− Vacancy
−$1.1K −$1.56/SF
EGI
$17.1K $24.48/SF
− OpEx
−$7.7K −$11.01/SF
NOI
$9.4K $13.46/SF
Area
Prince George's County, MD
Vacancy
6.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$188,200
Cap Rate 7%
$134,429
Cap Rate 9%
$104,556
Alternative Uses
Best Use
Apartment 5plus
$134.4K
$117.6K – $156.8K
NOI $9,410 @ 7.0% cap · market cap 5.57%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$225.5K
$197.3K – $263.1K
NOI $15,785 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,468
Businesses Nearby
Explore this area
Business Placement
Demographics for 20707, MD
37,702
Population
15,146
Households
2.5
Avg Household Size
37
Median Age
45%
College-Educated
89%
High-School Grad
12.6 sq mi
ZIP Area
2,992
Density / Sq Mi
$104,093
Median Household Income
$58,633
Median Earnings
$1,880
Median Rent
$411,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom residence with loft, private balcony, dedicated parking, and convenient access to Laurel-area shopping and transportation.
Where is this residential income property located?
The property is located at 14006 KORBA PLACE #3F Laurel, MD.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: 699 square feet with one bedroom plus a loft; Private balcony connected to open‑concept living space; Dedicated parking included
