Residential Income
For Sale
$675,000
1915 TOWNE CENTRE BOULEVARD Unit 403, Annapolis, MD 21401
The 2-bedroom residence includes a den, covered balcony, and two assigned garage spaces.
Property Size1,602 SF
Price / SF$421.35
Days on Market213
Property Features for 1915 TOWNE CENTRE BOULEVARD Unit 403
General Information
Standard status
Active
Size
1,602 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,317
Amenities
concierge services
fitness center
rooftop pool
storage cage
Building Details
Building Size
1,602 SF
Year Built
2009
Listing Agency:
Coldwell Banker Realty
Listed By:
David C Yee · License #633947
(410) 487-5980
Source:
Gallerycollectivere
Added: Apr 1
Changed: Oct 27
Last Checked: Oct 27 at 3:44AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This 1,602-square-foot corner residence in the GrandView community was built in 2009. Its layout includes two bedrooms, two baths, and a den that can serve as a home office. Hardwood flooring, granite countertops, newer appliances, custom window treatments, and 10-foot coffered ceilings are among the interior features. A wall of windows brings in natural light, and the unit also has a covered corner balcony and a storage cage.
Residents have access to concierge service, a fitness center, and a rooftop pool. The property is in Annapolis Town Center, near Whole Foods Market, Target, banking, restaurants, and nightlife. Historic Downtown Annapolis, Annapolis Mall, and Anne Arundel Medical Center are described as minutes away, with access to Route 50 and I-97. Two assigned garage parking spaces are included.
Residents have access to concierge service, a fitness center, and a rooftop pool. The property is in Annapolis Town Center, near Whole Foods Market, Target, banking, restaurants, and nightlife. Historic Downtown Annapolis, Annapolis Mall, and Anne Arundel Medical Center are described as minutes away, with access to Route 50 and I-97. Two assigned garage parking spaces are included.
Key Highlights
- 1,602‑square‑foot corner residence with 2 bedrooms, 2 baths, and a den
- Built in 2009
- Covered corner balcony and storage cage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,621
Cap Rate
3.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$432,420
$432.4K
Cap Rate 7%
$308,871
$308.9K
Cap Rate 9%
$240,233
$240.2K
Market Conditions
NOI Build-Up for 1,602 SF
Gross rent
$41.9K $26.16/SF
− Vacancy
−$2.6K −$1.62/SF
EGI
$39.3K $24.54/SF
− OpEx
−$17.7K −$11.04/SF
NOI
$21.6K $13.50/SF
Area
Anne Arundel County, MD
Vacancy
6.20%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$432,420
Cap Rate 7%
$308,871
Cap Rate 9%
$240,233
Alternative Uses
Best Use
Apartment 5plus
$308.9K
$270.3K – $360.4K
NOI $21,621 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$468.6K
$410.1K – $546.7K
NOI $32,804 @ 7.0% cap · market cap 4.86%
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
2,885
Businesses Nearby
Explore this area
Business Placement
Demographics for 21401, MD
39,308
Population
19,293
Households
2
Avg Household Size
44
Median Age
61%
College-Educated
96%
High-School Grad
19.9 sq mi
ZIP Area
1,975
Density / Sq Mi
$119,296
Median Household Income
$67,845
Median Earnings
$2,106
Median Rent
$580,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The 2-bedroom residence includes a den, covered balcony, and two assigned garage spaces.
Where is this residential income property located?
The property is located at 1915 TOWNE CENTRE BOULEVARD Unit 403 Annapolis, MD.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 1,602‑square‑foot corner residence with 2 bedrooms, 2 baths, and a den; Built in 2009; Covered corner balcony and storage cage
