Top-Floor Residential Income
For Sale
$215,000
1470 GREENBRIAR CIRCLE Unit 2, Baltimore, MD 21208
Updated kitchen and baths complement a balcony, vaulted ceiling, and in-unit laundry.
Property Size960 SF
Days on Market13
Property Features for 1470 GREENBRIAR CIRCLE Unit 2
General Information
Standard status
Active
Size
960 SF
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Furnished
No
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,879
Amenities
pool
community center
Building Details
Building Size
960 SF
Year Built
1989
Listing Agency:
Cummings & Co. Realtors
Listed By:
Deborah Bullinger · License #0652025
(410) 916-6170
Source:
Thehulsmangroup
Added: Sep 15
Changed: Sep 26
Last Checked: Sep 26 at 11:21AM
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 Cummings & Co. Realtors
Investment Insights
Based on property information with market context.
This top-floor condominium offers a practical residential layout with a separate dining room and sunroom, vaulted ceiling, balcony, and an updated kitchen featuring custom cabinetry and a breakfast bar. The primary bedroom includes a private bath and walk-in closet. Additional improvements include renovated bathrooms with tile finishes, new carpet, fresh paint, a newer thermostat, and a water heater and stainless steel dishwasher installed in 2025.
The property is located in Pikesville at 1470 Greenbriar Circle, Unit 2, Baltimore, Maryland 21208. On-site parking is available, while the condominium association provides access to a pool and community center. Water is included, and association-managed landscaping and snow removal support a lower-maintenance ownership experience.
Built in 1989, the unit also includes an in-home washer and dryer, combining updated interior features with convenient residential amenities.
The property is located in Pikesville at 1470 Greenbriar Circle, Unit 2, Baltimore, Maryland 21208. On-site parking is available, while the condominium association provides access to a pool and community center. Water is included, and association-managed landscaping and snow removal support a lower-maintenance ownership experience.
Built in 1989, the unit also includes an in-home washer and dryer, combining updated interior features with convenient residential amenities.
Key Highlights
- Top‑floor condominium with balcony and vaulted ceiling
- Separate dining room and sunroom provide additional living areas
- Updated kitchen with custom cabinets and breakfast bar
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
$12,507
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
5.82%
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%
$250,140
$250.1K
Cap Rate 7%
$178,671
$178.7K
Cap Rate 9%
$138,967
$139.0K
Market Conditions
NOI Build-Up for 960 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
$24.2K $25.20/SF
− Vacancy
−$1.5K −$1.51/SF
EGI
$22.7K $23.69/SF
− OpEx
−$10.2K −$10.66/SF
NOI
$12.5K $13.03/SF
Area
Baltimore, MD
Vacancy
6.00%
Lease Rate
$25.20 /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%
$250,140
Cap Rate 7%
$178,671
Cap Rate 9%
$138,967
Alternative Uses
Best Use
Apartment 5plus
$178.7K
$156.3K – $208.5K
NOI $12,507 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$230.0K
$201.2K – $268.3K
NOI $16,099 @ 7.0% cap · market cap 7.49%
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
2,030
Businesses Nearby
Explore this area
Business Placement
Demographics for 21208, MD
35,007
Population
16,397
Households
2.1
Avg Household Size
46
Median Age
49%
College-Educated
94%
High-School Grad
12.6 sq mi
ZIP Area
2,778
Density / Sq Mi
$90,822
Median Household Income
$55,620
Median Earnings
$1,672
Median Rent
$313,400
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Updated kitchen and baths complement a balcony, vaulted ceiling, and in-unit laundry.
Where is this residential income property located?
The property is located at 1470 GREENBRIAR CIRCLE Unit 2 Baltimore, 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: Top‑floor condominium with balcony and vaulted ceiling; Separate dining room and sunroom provide additional living areas; Updated kitchen with custom cabinets and breakfast bar
