Ground-Level Residential Income
For Sale
$245,000
1701 RICH WAY Unit B, Forest Hill, MD 21050
The condominium includes an enclosed patio, access to a community pool, and association-maintained grounds.
Property Size1,400 SF
Price / SF$175
Days on Market93
Property Features for 1701 RICH WAY Unit B
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,289
Amenities
community pool
Building Details
Building Size
1,400 SF
Year Built
2000
Listing Agency:
Cummings & Co. Realtors
Listed By:
Tina Holmes · License #659883
(410) 292-4846
Source:
Ghimirehomes
Added: Jul 30
Changed: Oct 27
Last Checked: Oct 26 at 3:58PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,400-square-foot, ground-level condominium has three bedrooms and two bathrooms. Its layout includes a living room, separate dining space, kitchen open to a family room, and a laundry and utility room. The primary suite has hardwood flooring and a private bathroom. Fresh paint and new carpet are among the recent interior updates.
An enclosed patio faces a grassy common area. Residents also have use of a community pool, while the association handles mowing, landscaping, and snow removal. The property was built in 2000.
An enclosed patio faces a grassy common area. Residents also have use of a community pool, while the association handles mowing, landscaping, and snow removal. The property was built in 2000.
Key Highlights
- 1,400‑square‑foot condominium with 3 bedrooms and 2 bathrooms
- Ground‑level residence with an enclosed patio facing a grassy common area
- Community pool; association maintains landscaping and handles snow removal
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,747
Cap Rate
7.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,940
$374.9K
Cap Rate 7%
$267,814
$267.8K
Cap Rate 9%
$208,300
$208.3K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$36.5K $26.04/SF
− Vacancy
−$2.4K −$1.69/SF
EGI
$34.1K $24.35/SF
− OpEx
−$15.3K −$10.96/SF
NOI
$18.7K $13.39/SF
Area
Harford County, MD
Vacancy
6.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,940
Cap Rate 7%
$267,814
Cap Rate 9%
$208,300
Alternative Uses
Best Use
Apartment 5plus
$267.8K
$234.3K – $312.5K
NOI $18,747 @ 7.0% cap · market cap 7.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$492.6K
$431.0K – $574.7K
NOI $34,482 @ 7.0% cap · market cap 14.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
352
Businesses Nearby
Explore this area
Business Placement
Demographics for 21050, MD
18,681
Population
6,507
Households
2.9
Avg Household Size
44
Median Age
47%
College-Educated
96%
High-School Grad
29.0 sq mi
ZIP Area
644
Density / Sq Mi
$123,750
Median Household Income
$69,489
Median Earnings
$1,646
Median Rent
$439,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - The condominium includes an enclosed patio, access to a community pool, and association-maintained grounds.
Where is this residential income property located?
The property is located at 1701 RICH WAY Unit B Forest Hill, MD.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 1,400‑square‑foot condominium with 3 bedrooms and 2 bathrooms; Ground‑level residence with an enclosed patio facing a grassy common area; Community pool; association maintains landscaping and handles snow removal
