Waterfront Residential Income
For Sale
$669,000
2104 CHESAPEAKE HARBOUR DRIVE E Unit 202, Annapolis, MD 21403
Updated waterfront residence with access to a marina, private beach, pools, and tennis courts.
Property Size1,500 SF
Days on Market26
Property Features for 2104 CHESAPEAKE HARBOUR DRIVE E Unit 202
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,058
Amenities
deep-water marina
private beach
pools
tennis courts
24/7 security
on-site waterfront restaurant
Building Details
Building Size
1,500 SF
Year Built
1988
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty
Listed By:
Jared Schwartz · License #5012305
(301) 906-5301
Source:
Bradkappel
Added: Sep 10
Changed: Oct 3
Last Checked: Oct 4 at 5:22PM
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 Berkshire Hathaway HomeServices PenFed Realty
Investment Insights
Based on property information with market context.
Residence 202 at Chesapeake Harbour is a waterfront home in a gated community, with water views and an open interior layout. Recent improvements include new LVP flooring installed in Oct 2024, updated lighting from 2024, kitchen cabinetry and quartz countertops completed in Dec 2024, and new appliances added in Jan 2025. The primary suite includes a custom Closet America walk-in closet completed in Sept 2025.
Community amenities include direct access to a deep-water marina, private beach, pools, tennis courts, 24/7 security, and an on-site waterfront restaurant. The property is located minutes from historic Downtown Annapolis.
Community amenities include direct access to a deep-water marina, private beach, pools, tennis courts, 24/7 security, and an on-site waterfront restaurant. The property is located minutes from historic Downtown Annapolis.
Key Highlights
- Waterfront residence with serene water views
- New LVP flooring installed Oct 2024 and contemporary lighting added in 2024
- Kitchen updated with custom cabinetry and quartz countertops in Dec 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,244
Cap Rate
3.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,880
$404.9K
Cap Rate 7%
$289,200
$289.2K
Cap Rate 9%
$224,933
$224.9K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$39.2K $26.16/SF
− Vacancy
−$2.4K −$1.62/SF
EGI
$36.8K $24.54/SF
− OpEx
−$16.6K −$11.04/SF
NOI
$20.2K $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%
$404,880
Cap Rate 7%
$289,200
Cap Rate 9%
$224,933
Alternative Uses
Best Use
Apartment 5plus
$289.2K
$253.1K – $337.4K
NOI $20,244 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$438.8K
$383.9K – $511.9K
NOI $30,715 @ 7.0% cap · market cap 4.59%
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
290
Businesses Nearby
Explore this area
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 - Updated waterfront residence with access to a marina, private beach, pools, and tennis courts.
Where is this residential income property located?
The property is located at 2104 CHESAPEAKE HARBOUR DRIVE E Unit 202 Annapolis, MD.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Waterfront residence with serene water views; New LVP flooring installed Oct 2024 and contemporary lighting added in 2024; Kitchen updated with custom cabinetry and quartz countertops in Dec 2024
