Second-Floor Residential Income
For Sale
$229,900
1803 SNOW MEADOW LANE Unit 202, Baltimore, MD 21209
Condominium residence with refreshed outdoor space, updated bathroom, and included water, gas, and pool access.
Property Size1,563 SF
Days on Market175
Property Features for 1803 SNOW MEADOW LANE Unit 202
General Information
Standard status
Active
Size
1,563 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,939
Amenities
covered porch
pool
laundry closet
Building Details
Building Size
1,563 SF
Year Built
1997
Listing Agency:
Pickwick Realty
Listed By:
David Wealcatch · License #628787
(443) 499-2721
Source:
Thehulsmangroup
Added: Mar 15
Changed: Sep 4
Last Checked: Sep 5 at 4:40AM
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 Pickwick Realty
Investment Insights
Based on property information with market context.
This second-floor condominium, built in 1997, offers a three-bedroom, two-bathroom layout with an open connection between the living and dining areas. The kitchen provides substantial cabinet storage and new flooring, while the oversized primary bedroom includes an updated en-suite bathroom. Two additional bedrooms, a second full bathroom, a laundry closet, and additional closet storage complete the interior. A covered porch extends from the living space and has been recently refreshed.
The property is located in the Rockland Run community at 1803 Snow Meadow Lane, Unit 202, Baltimore, MD 21209. Condo fees include water, gas, and pool passes.
The property is located in the Rockland Run community at 1803 Snow Meadow Lane, Unit 202, Baltimore, MD 21209. Condo fees include water, gas, and pool passes.
Key Highlights
- Three‑bedroom, two‑bathroom condominium on the second floor
- Built in 1997 with an open living and dining area
- Kitchen features new flooring and extensive cabinet storage
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
$20,363
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
8.86%
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%
$407,260
$407.3K
Cap Rate 7%
$290,900
$290.9K
Cap Rate 9%
$226,256
$226.3K
Market Conditions
NOI Build-Up for 1,563 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
$39.4K $25.20/SF
− Vacancy
−$2.4K −$1.51/SF
EGI
$37.0K $23.69/SF
− OpEx
−$16.7K −$10.66/SF
NOI
$20.4K $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%
$407,260
Cap Rate 7%
$290,900
Cap Rate 9%
$226,256
Alternative Uses
Best Use
Apartment 5plus
$290.9K
$254.5K – $339.4K
NOI $20,363 @ 7.0% cap · market cap 8.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$374.5K
$327.7K – $436.9K
NOI $26,212 @ 7.0% cap · market cap 11.40%
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
468
Businesses Nearby
Explore this area
Business Placement
Demographics for 21209, MD
28,659
Population
12,086
Households
2.4
Avg Household Size
37
Median Age
60%
College-Educated
96%
High-School Grad
6.5 sq mi
ZIP Area
4,409
Density / Sq Mi
$87,669
Median Household Income
$57,694
Median Earnings
$1,640
Median Rent
$418,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with refreshed outdoor space, updated bathroom, and included water, gas, and pool access.
Where is this residential income property located?
The property is located at 1803 SNOW MEADOW LANE Unit 202 Baltimore, MD.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Three‑bedroom, two‑bathroom condominium on the second floor; Built in 1997 with an open living and dining area; Kitchen features new flooring and extensive cabinet storage
