Two-Bedroom Income
For Sale
$155,000
17 ASHLAR HILL COURT Unit 17, Baltimore, MD 21234
Condominium unit with a practical layout, natural light, and low-maintenance ownership in Parkville.
Property Size1,033 SF
Days on Market94
Property Features for 17 ASHLAR HILL COURT Unit 17
General Information
Standard status
Active
Size
1,033 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$970
Building Details
Building Size
1,033 SF
Year Built
1994
Listing Agency:
Kencot Realty, LLC.
(410) 891-2090
Listed By:
Michelle A Godfrey · License #584916
(410) 891-2090
Source:
Thehulsmangroup
Added: May 22
Changed: Aug 20
Last Checked: Aug 22 at 11:27AM
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 Kencot Realty, LLC.
Investment Insights
Based on property information with market context.
This residential income property is a condominium unit with 2 bedrooms and 2 full bathrooms. The interior offers a functional arrangement, natural light, and a low-maintenance format. Built in 1994, the property is offered in as-is condition, allowing the next owner to address updates according to their preferences.
The unit is located at 17 Ashlar Hill Court, Unit 17, in Baltimore, Maryland. Shopping, restaurants, and major commuter routes are identified nearby. A lease option will be considered.
The unit is located at 17 Ashlar Hill Court, Unit 17, in Baltimore, Maryland. Shopping, restaurants, and major commuter routes are identified nearby. A lease option will be considered.
Key Highlights
- 2‑bedroom, 2‑bathroom condominium unit
- Built in 1994
- Sold in as‑is condition
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
$13,458
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
8.68%
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%
$269,160
$269.2K
Cap Rate 7%
$192,257
$192.3K
Cap Rate 9%
$149,533
$149.5K
Market Conditions
NOI Build-Up for 1,033 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
$26.0K $25.20/SF
− Vacancy
−$1.6K −$1.51/SF
EGI
$24.5K $23.69/SF
− OpEx
−$11.0K −$10.66/SF
NOI
$13.5K $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%
$269,160
Cap Rate 7%
$192,257
Cap Rate 9%
$149,533
Alternative Uses
Best Use
Apartment 5plus
$192.3K
$168.2K – $224.3K
NOI $13,458 @ 7.0% cap · market cap 8.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$247.5K
$216.5K – $288.7K
NOI $17,323 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
Explore this area
Business Placement
Demographics for 21234, MD
67,308
Population
29,575
Households
2.3
Avg Household Size
40
Median Age
36%
College-Educated
93%
High-School Grad
13.4 sq mi
ZIP Area
5,023
Density / Sq Mi
$83,139
Median Household Income
$52,260
Median Earnings
$1,542
Median Rent
$276,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium unit with a practical layout, natural light, and low-maintenance ownership in Parkville.
Where is this residential income property located?
The property is located at 17 ASHLAR HILL COURT Unit 17 Baltimore, MD.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bathroom condominium unit; Built in 1994; Sold in as‑is condition
