Penthouse
1406 WIGEON WAY Unit 303, Gambrills, MD 21054
For Sale
$355,000
Set within a 55+ community, the residence features a deck with a quiet outlook.
Property Size1,334 SF
Days on Market243
Property Features for 1406 WIGEON WAY Unit 303
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Samson Properties
Listed By:
George H. DuBose · License MD #309815
(240) 535-6246
Source:
Bradkappel
Added: Mar 13
Changed: Nov 8
Last Checked: Nov 8 at 3:16PM
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 Samson Properties
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Investment Insights
Based on property information with market context.
This penthouse condominium was built in 2013 and has been freshly painted. The kitchen combines granite work surfaces and cherry cabinetry with stainless steel appliances. In the primary bedroom, a walk-in closet provides storage; the adjoining bath has a soaking tub and separate shower. Custom window drapes have also been added, and a deck offers a quiet view.
The residence is part of a 55+ community. The building is described as well maintained, and shopping is within walking distance.
The residence is part of a 55+ community. The building is described as well maintained, and shopping is within walking distance.
Key Highlights
- Penthouse residence with a deck and quiet outlook
- Located in a 55+ community
- Granite kitchen surfaces, cherry cabinetry, and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,004
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,080
$360.1K
Cap Rate 7%
$257,200
$257.2K
Cap Rate 9%
$200,044
$200.0K
Market Conditions
NOI Build-Up for 1,334 SF
Gross rent
$34.9K $26.16/SF
− Vacancy
−$2.2K −$1.62/SF
EGI
$32.7K $24.54/SF
− OpEx
−$14.7K −$11.04/SF
NOI
$18.0K $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 Rate 5%
$360,080
Cap Rate 7%
$257,200
Cap Rate 9%
$200,044
Alternative Uses
Best Use
Apartment 5plus
$257.2K
$225.1K – $300.1K
NOI $18,004 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$390.2K
$341.5K – $455.3K
NOI $27,316 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
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Business Placement
Demographics for 21054, MD
13,970
Population
5,377
Households
2.6
Avg Household Size
40
Median Age
58%
College-Educated
94%
High-School Grad
15.9 sq mi
ZIP Area
879
Density / Sq Mi
$153,976
Median Household Income
$67,193
Median Earnings
$2,351
Median Rent
$587,700
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Anne Arundel County, MD
Properties on Market for Residential income properties in Anne Arundel County
Frequently Asked Questions
What type of property is this?
Residential income property - Set within a 55+ community, the residence features a deck with a quiet outlook.
Where is this residential income property located?
The property is located at 1406 WIGEON WAY Unit 303 Gambrills, MD.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Penthouse residence with a deck and quiet outlook; Located in a 55+ community; Granite kitchen surfaces, cherry cabinetry, and stainless steel appliances
