Bayside Residential Income
For Sale
$215,000
14300 JARVIS AVENUE #A202, Ocean City, MD 21842
Second-floor condominium with one bedroom, one bath, a full kitchen, and in-unit laundry.
Property Size680 SF
Days on Market185
Property Features for 14300 JARVIS AVENUE #A202
General Information
Standard status
Active
Size
680 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
community picnic area
washer/dryer
Building Details
Building Size
680 SF
Year Built
1985
Stories
3
Listing Agency:
Sea Grace @ North Beach Realtors
Listed By:
Grace Masten
(410) 250-4433
Source:
Paulchilds.kw
Added: Mar 6
Changed: Aug 31
Last Checked: Sep 7 at 4:39AM
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 Sea Grace @ North Beach Realtors
Investment Insights
Based on property information with market context.
This second-floor condominium is located in a low-rise building constructed in 1985 and offers a one-bedroom, one-bath layout. The interior includes an open floor plan, full kitchen with pantry, central heat and air conditioning, and a washer and dryer. Fresh paint and new bedroom carpeting provide updated interior finishes, while the bedroom includes a large storage closet.
The property is situated in a bayside, tree-lined setting with natural light throughout. Residents also have access to a community picnic area. The address is 14300 Jarvis Avenue #A202 in Ocean City, Maryland.
The property is situated in a bayside, tree-lined setting with natural light throughout. Residents also have access to a community picnic area. The address is 14300 Jarvis Avenue #A202 in Ocean City, Maryland.
Key Highlights
- One‑bedroom, one‑bath second‑floor condominium
- Low‑rise building constructed in 1985
- Full kitchen with pantry and open floor plan
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
$6,400
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
2.98%
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%
$128,000
$128.0K
Cap Rate 7%
$91,429
$91.4K
Cap Rate 9%
$71,111
$71.1K
Market Conditions
NOI Build-Up for 680 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
$12.5K $18.36/SF
− Vacancy
−$849 −$1.25/SF
EGI
$11.6K $17.11/SF
− OpEx
−$5.2K −$7.70/SF
NOI
$6.4K $9.41/SF
Area
Worcester County, MD
Vacancy
6.80%
Lease Rate
$18.36 /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%
$128,000
Cap Rate 7%
$91,429
Cap Rate 9%
$71,111
Alternative Uses
Best Use
Apartment 5plus
$91.4K
$80.0K – $106.7K
NOI $6,400 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$163.4K
$143.0K – $190.7K
NOI $11,439 @ 7.0% cap · market cap 5.32%
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
417
Businesses Nearby
Explore this area
Business Placement
Demographics for 21842, MD
11,104
Population
32,684
Households
0.3
Avg Household Size
53
Median Age
39%
College-Educated
95%
High-School Grad
9.2 sq mi
ZIP Area
1,207
Density / Sq Mi
$75,372
Median Household Income
$40,189
Median Earnings
$1,258
Median Rent
$415,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor condominium with one bedroom, one bath, a full kitchen, and in-unit laundry.
Where is this residential income property located?
The property is located at 14300 JARVIS AVENUE #A202 Ocean City, MD.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: One‑bedroom, one‑bath second‑floor condominium; Low‑rise building constructed in 1985; Full kitchen with pantry and open floor plan
