Residential Income Property with
For Sale
$1,299,000
208 SECOND STREET E #202, Frederick, MD 21701
Downtown Frederick condominium with secure entry, garage parking, private outdoor space, and convenient single-floor access.
Property Size2,700 SF
Days on Market196
Property Features for 208 SECOND STREET E #202
General Information
Standard status
Active
Size
2,700 SF
Total Parking Spaces
2
Elevators
Yes
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
secure entry
deck space
laundry room
Building Details
Building Size
2,700 SF
Year Built
2026
Listing Agency:
RE/MAX Results
Listed By:
Kimberly Hotaling · License #618204
(301) 698-5005
Source:
Cindee.kw
Added: Mar 24
Changed: Sep 14
Last Checked: Oct 4 at 6:44AM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
This 2026-built residential income property is a three-bedroom condominium with two full bathrooms and one half bath. The single-level layout includes an open living area, gourmet kitchen with quartz countertops, hardwood floors, a primary suite with marble tile shower and two walk-in closets, an en-suite guest bedroom, powder room, and separate laundry room. A private deck provides space for outdoor dining.
Building amenities include secure entry, an elevator, and two deeded garage parking spaces. The elevator connects the garage to the residence, supporting convenient single-floor living. The property is located in downtown Frederick near Visitation Hotel Frederick and Wye Oak Tavern.
Building amenities include secure entry, an elevator, and two deeded garage parking spaces. The elevator connects the garage to the residence, supporting convenient single-floor living. The property is located in downtown Frederick near Visitation Hotel Frederick and Wye Oak Tavern.
Key Highlights
- Three‑bedroom condominium with 2 full baths and 1 half bath
- 2026 construction with hardwood flooring throughout
- Gourmet kitchen with quartz countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,736
Cap Rate
2.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$734,720
$734.7K
Cap Rate 7%
$524,800
$524.8K
Cap Rate 9%
$408,178
$408.2K
Market Conditions
NOI Build-Up for 2,700 SF
Gross rent
$70.3K $26.04/SF
− Vacancy
−$3.5K −$1.30/SF
EGI
$66.8K $24.74/SF
− OpEx
−$30.1K −$11.13/SF
NOI
$36.7K $13.61/SF
Area
Frederick County, MD
Vacancy
5.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$734,720
Cap Rate 7%
$524,800
Cap Rate 9%
$408,178
Alternative Uses
Best Use
Apartment 5plus
$524.8K
$459.2K – $612.3K
NOI $36,736 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.00M
$875.4K – $1.17M
NOI $70,034 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 21701, MD
39,629
Population
18,914
Households
2.1
Avg Household Size
40
Median Age
50%
College-Educated
95%
High-School Grad
39.7 sq mi
ZIP Area
998
Density / Sq Mi
$102,306
Median Household Income
$59,381
Median Earnings
$1,607
Median Rent
$404,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Downtown Frederick condominium with secure entry, garage parking, private outdoor space, and convenient single-floor access.
Where is this residential income property located?
The property is located at 208 SECOND STREET E #202 Frederick, MD.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Three‑bedroom condominium with 2 full baths and 1 half bath; 2026 construction with hardwood flooring throughout; Gourmet kitchen with quartz countertops
