Residential Income
New
For Sale
$239,900
209 VICTOR PARKWAY Unit 209B, Annapolis, MD 21403
The two-bedroom condo includes a galley kitchen with stainless steel appliances and an entry-level bedroom.
Property Size987 SF
Days on Market7
Property Features for 209 VICTOR PARKWAY Unit 209B
General Information
Standard status
Active
Size
987 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,098
Amenities
outdoor pool
tennis courts
dog park
Building Details
Building Size
987 SF
Year Built
1971
Listing Agency:
ExecuHome Realty
Listed By:
Lawrence Wachter · License #623966
(240) 506-5497
Source:
Bradkappel
Added: Oct 24
Changed: Oct 27
Last Checked: Oct 28 at 1:28PM
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 ExecuHome Realty
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Investment Insights
Based on property information with market context.
This two-bedroom, two-bathroom condo in Fairwinds of Annapolis has a galley kitchen with stainless steel appliances, a built-in microwave, and a gas range. An entry-level bedroom adds to the unit’s layout. The property was built in 1971.
Community amenities include an outdoor pool, tennis courts, and a dog park. The association fee covers gas, water, and lawn maintenance. Local shops, schools, and parks are nearby.
Community amenities include an outdoor pool, tennis courts, and a dog park. The association fee covers gas, water, and lawn maintenance. Local shops, schools, and parks are nearby.
Key Highlights
- Two bedrooms and two bathrooms
- Galley kitchen with stainless steel appliances, built‑in microwave, and gas range
- Entry‑level bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,320
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$266,400
$266.4K
Cap Rate 7%
$190,286
$190.3K
Cap Rate 9%
$148,000
$148.0K
Market Conditions
NOI Build-Up for 987 SF
Gross rent
$25.8K $26.16/SF
− Vacancy
−$1.6K −$1.62/SF
EGI
$24.2K $24.54/SF
− OpEx
−$10.9K −$11.04/SF
NOI
$13.3K $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%
$266,400
Cap Rate 7%
$190,286
Cap Rate 9%
$148,000
Alternative Uses
Best Use
Apartment 5plus
$190.3K
$166.5K – $222.0K
NOI $13,320 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$288.7K
$252.6K – $336.9K
NOI $20,211 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
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Business Placement
Demographics for 21403, MD
31,521
Population
15,479
Households
2
Avg Household Size
42
Median Age
58%
College-Educated
91%
High-School Grad
9.3 sq mi
ZIP Area
3,389
Density / Sq Mi
$115,068
Median Household Income
$64,638
Median Earnings
$1,872
Median Rent
$566,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom condo includes a galley kitchen with stainless steel appliances and an entry-level bedroom.
Where is this residential income property located?
The property is located at 209 VICTOR PARKWAY Unit 209B Annapolis, MD.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two bedrooms and two bathrooms; Galley kitchen with stainless steel appliances, built‑in microwave, and gas range; Entry‑level bedroom
