Residential Income Property with
For Sale
$285,000
1606 MARION QUIMBY DRIVE, Stevensville, MD 21666
An upper-level, three-bedroom condo includes a wood-burning fireplace, in-unit laundry, and access to a community pool.
Property Size949 SF
Price / SF$300.32
Days on Market16
Property Features for 1606 MARION QUIMBY DRIVE
General Information
Standard status
Active
Size
949 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,503
Amenities
swimming pool
recreation center
in-unit laundry
private balcony
wood-burning fireplace
Building Details
Building Size
949 SF
Year Built
1993
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Mary Elizabeth Jameson · License #5002109
(410) 443-6911
Source:
Chesapeakerealestateassociates
Added: Oct 14
Changed: Oct 27
Last Checked: Oct 26 at 2:40PM
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.
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Investment Insights
Based on property information with market context.
This upper-level condo offers 949 square feet, with three bedrooms, two full bathrooms, a private balcony, and a wood-burning fireplace. In-unit laundry adds convenience, and the property was built in 1993. Residents also have access to a community swimming pool and recreation center, with professionally maintained common areas and exterior maintenance handled by the association.
The home is in Stevensville on Kent Island, near grocery stores, retail, restaurants, and everyday services. Route 50 and the Chesapeake Bay Bridge provide connections toward Annapolis and surrounding areas.
The home is in Stevensville on Kent Island, near grocery stores, retail, restaurants, and everyday services. Route 50 and the Chesapeake Bay Bridge provide connections toward Annapolis and surrounding areas.
Key Highlights
- Upper‑level condo with 949 square feet
- Three bedrooms and two full bathrooms
- Private balcony and wood‑burning fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,495
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$249,900
$249.9K
Cap Rate 7%
$178,500
$178.5K
Cap Rate 9%
$138,833
$138.8K
Market Conditions
NOI Build-Up for 949 SF
Gross rent
$23.9K $25.20/SF
− Vacancy
−$1.2K −$1.26/SF
EGI
$22.7K $23.94/SF
− OpEx
−$10.2K −$10.77/SF
NOI
$12.5K $13.17/SF
Area
Queen Anne's County, MD
Vacancy
5.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$249,900
Cap Rate 7%
$178,500
Cap Rate 9%
$138,833
Alternative Uses
Best Use
Apartment 5plus
$178.5K
$156.2K – $208.3K
NOI $12,495 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$227.4K
$198.9K – $265.3K
NOI $15,915 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
484
Businesses Nearby
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Business Placement
Demographics for 21666, MD
12,848
Population
5,781
Households
2.2
Avg Household Size
45
Median Age
42%
College-Educated
95%
High-School Grad
21.9 sq mi
ZIP Area
587
Density / Sq Mi
$130,426
Median Household Income
$63,926
Median Earnings
$1,755
Median Rent
$478,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - An upper-level, three-bedroom condo includes a wood-burning fireplace, in-unit laundry, and access to a community pool.
Where is this residential income property located?
The property is located at 1606 MARION QUIMBY DRIVE Stevensville, MD.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Upper‑level condo with 949 square feet; Three bedrooms and two full bathrooms; Private balcony and wood‑burning fireplace
