Residential Income Property with
New
For Sale
$190,000
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$271.82
Days on Market5
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 4
Changed: Sep 7
Last Checked: Sep 7 at 7:31AM
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.
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 = 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
$9,434
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
4.97%
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%
$188,680
$188.7K
Cap Rate 7%
$134,771
$134.8K
Cap Rate 9%
$104,822
$104.8K
Market Conditions
NOI Build-Up for 699 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
$18.3K $26.16/SF
− Vacancy
−$1.1K −$1.62/SF
EGI
$17.2K $24.54/SF
− OpEx
−$7.7K −$11.04/SF
NOI
$9.4K $13.50/SF
Area
Anne Arundel County, MD
Vacancy
6.20%
Lease Rate
$26.16 /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%
$188,680
Cap Rate 7%
$134,771
Cap Rate 9%
$104,822
Alternative Uses
Best Use
Apartment 5plus
$134.8K
$117.9K – $157.2K
NOI $9,434 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$204.5K
$178.9K – $238.6K
NOI $14,313 @ 7.0% cap · market cap 7.53%
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
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
Questions? Ask Rey
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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 $190,000.
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
