Building Details

Building Size 1,160 SF

Year Built 2006

Listing Agency: Compass

Listed By: Andrea G Griffin · License #599783 Show Phone

Source: Thehulsmangroup

Added: Sep 10 Changed: Oct 8 Last Checked: Oct 7 at 5:19PM

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Investment Insights

Based on property information with market context.

This 2-bedroom, 2-bathroom condominium residence features an open living and dining arrangement connected to a modern kitchen with granite countertops, stainless steel appliances, and a breakfast bar. The home includes 9-foot ceilings, oversized windows, and two generously sized bedrooms. The primary suite adds a walk-in closet and ensuite bath.

Millrace Condominiums offers an outdoor pool, courtyard picnic areas, indoor and outdoor lounges, grilling stations, and an event room with a kitchen. Secure, deeded garage parking is included. The property is located in the Clipper Mill community in Woodberry, near the Woodberry light rail stop, Hampden shops and dining, Druid Hill Park, and the nearby Zen garden.

Key Highlights

• 2‑bedroom, 2‑bathroom condominium residence
• Open living and dining area with granite kitchen, stainless steel appliances, and breakfast bar
• 9‑foot ceilings and oversized windows

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,113

Cap Rate

5.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$302,260 $302.3K

Cap Rate 7%

$215,900 $215.9K

Cap Rate 9%

$167,922 $167.9K

Market Conditions

NOI Build-Up for 1,160 SF

Gross rent

$29.2K $25.20/SF

− Vacancy

−$1.8K −$1.51/SF

EGI

$27.5K $23.69/SF

− OpEx

−$12.4K −$10.66/SF

NOI

$15.1K $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 Rate 5%

$302,260

Cap Rate 7%

$215,900

Cap Rate 9%

$167,922

Alternative Uses

Best Use

Apartment 5plus

$215.9K

$188.9K – $251.9K (±1% cap)

NOI $15,113 @ 7.0% cap · market cap 5.18%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$277.9K

$243.2K – $324.2K (±1% cap)

NOI $19,453 @ 7.0% cap · market cap 6.66%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Residential income properties

Suggested Use

Top Pick Dental Office HVAC Service Electrical Service Accounting Firm (Bike/Boat/Book/etc) Store Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,085

Businesses Nearby

Explore this area Business Placement

Demographics for 21211, MD

17,721

Population

9,056

Households

2

Avg Household Size

37

Median Age

61%

College-Educated

93%

High-School Grad

2.9 sq mi

ZIP Area

6,111

Density / Sq Mi

$81,467

Median Household Income

$64,019

Median Earnings

$1,577

Median Rent

$274,000

Median Home Value

Questions? Ask Rey

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What type of property is this? Where is this residential income properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Residential income property - Condominium residence with granite kitchen, garage parking, and access to community amenities.

Where is this residential income property located?

The property is located at 2007 CLIPPER PARK ROAD Unit 211 Baltimore, MD.

What is the asking price?

The asking price for this property is $292,000.

What are key features of this property?

This property features: 2‑bedroom, 2‑bathroom condominium residence; Open living and dining area with granite kitchen, stainless steel appliances, and breakfast bar; 9‑foot ceilings and oversized windows