Building Details

Building Size 1,657 SF

Year Built 2007

Construction garden-style

Listing Agency: RE/MAX Components

Listed By: Donna W. Steffe · License #617579 Show Phone

Source: Ghimirehomes

Added: Oct 2 Changed: Oct 27 Last Checked: Oct 26 at 2:33PM

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Investment Insights

Based on property information with market context.

This 1,657-square-foot condo has two bedrooms, two full bathrooms, and an open/traditional layout. Interior features include a washer and dryer, stainless steel appliances, oak cabinetry, carpet, and hardwood flooring. The unit was built in 2007.

Located at 1401 Joppa Forest Drive, Unit C, in Joppa, the condo is part of a 55+ community with a community center, exercise and party room, and walking trails. The association handles common-area maintenance, lawn care, and parking. One designated parking space conveys with the unit.

Key Highlights

• 1,657‑square‑foot condo with two bedrooms and two full bathrooms
• Built in 2007
• Located in a 55+ community

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,189

Cap Rate

7.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$443,780 $443.8K

Cap Rate 7%

$316,986 $317.0K

Cap Rate 9%

$246,544 $246.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,657 SF

Gross rent

$43.1K $26.04/SF

− Vacancy

−$2.8K −$1.69/SF

EGI

$40.3K $24.35/SF

− OpEx

−$18.2K −$10.96/SF

NOI

$22.2K $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%

$443,780

Cap Rate 7%

$316,986

Cap Rate 9%

$246,544

Alternative Uses

Best Use

Apartment 5plus

$317.0K

$277.4K – $369.8K (±1% cap)

NOI $22,189 @ 7.0% cap · market cap 7.93%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$583.0K

$510.2K – $680.2K (±1% cap)

NOI $40,812 @ 7.0% cap · market cap 14.58%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

101

Businesses Nearby

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Demographics for 21085, MD

17,142

Population

7,073

Households

2.4

Avg Household Size

43

Median Age

31%

College-Educated

93%

High-School Grad

19.0 sq mi

ZIP Area

902

Density / Sq Mi

$107,975

Median Household Income

$63,132

Median Earnings

$1,593

Median Rent

$327,300

Median Home Value

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Frequently Asked Questions

What type of property is this?

Residential income property - Condo in a 55+ community with shared recreation spaces, walking trails, and a designated parking space.

Where is this residential income property located?

The property is located at 1401 JOPPA FOREST DRIVE Unit C Joppa, MD.

What is the asking price?

The asking price for this property is $279,900.

What are key features of this property?

This property features: 1,657‑square‑foot condo with two bedrooms and two full bathrooms; Built in 2007; Located in a 55+ community