Residential Income Property with
For Sale
$499,999
1915 TOWNE CENTRE BOULEVARD Unit 502, Annapolis, MD 21401
Fifth-floor residence with two bedrooms, assigned parking, and access to rooftop and fitness amenities.
Property Size1,485 SF
Days on Market224
Property Features for 1915 TOWNE CENTRE BOULEVARD Unit 502
General Information
Standard status
Active
Size
1,485 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Multifamily Units
1
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$5,439
Amenities
rooftop pool
fitness center
club rooms
concierge service
Building Details
Building Size
1,485 SF
Year Built
2009
Listing Agency:
Coldwell Banker Realty
Listed By:
David C Yee · License #633947
(410) 487-5980
Source:
Bradkappel
Added: Feb 23
Changed: Oct 3
Last Checked: Oct 4 at 2:05PM
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
Investment Insights
Based on property information with market context.
Built in 2009, this fifth-floor residential income property offers a two-bedroom layout with large closets, hardwood flooring, 10-foot ceilings, and granite countertops in the kitchen and bathrooms. Fresh paint, custom window treatments, and a private balcony add to the interior finish and outdoor living space, while southern exposure brings abundant natural light. An assigned parking space is included.
Building amenities include a rooftop pool, fitness center, club rooms, and concierge service. The property is located at 1915 Towne Centre Boulevard in Annapolis, within walking distance of shopping, dining, and entertainment at Annapolis Towne Centre.
Building amenities include a rooftop pool, fitness center, club rooms, and concierge service. The property is located at 1915 Towne Centre Boulevard in Annapolis, within walking distance of shopping, dining, and entertainment at Annapolis Towne Centre.
Key Highlights
- Two‑bedroom fifth‑floor residence with expansive closets
- 10‑foot ceilings, hardwood floors, and granite countertops
- Private balcony with southern exposure and area views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,041
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$400,820
$400.8K
Cap Rate 7%
$286,300
$286.3K
Cap Rate 9%
$222,678
$222.7K
Market Conditions
NOI Build-Up for 1,485 SF
Gross rent
$38.8K $26.16/SF
− Vacancy
−$2.4K −$1.62/SF
EGI
$36.4K $24.54/SF
− OpEx
−$16.4K −$11.04/SF
NOI
$20.0K $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%
$400,820
Cap Rate 7%
$286,300
Cap Rate 9%
$222,678
Alternative Uses
Best Use
Apartment 5plus
$286.3K
$250.5K – $334.0K
NOI $20,041 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$434.4K
$380.1K – $506.8K
NOI $30,408 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
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 - Fifth-floor residence with two bedrooms, assigned parking, and access to rooftop and fitness amenities.
Where is this residential income property located?
The property is located at 1915 TOWNE CENTRE BOULEVARD Unit 502 Annapolis, MD.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Two‑bedroom fifth‑floor residence with expansive closets; 10‑foot ceilings, hardwood floors, and granite countertops; Private balcony with southern exposure and area views
