Updated Residential Income
2108 CHESAPEAKE HARBOUR DRIVE Unit 201, Annapolis, MD 21403
For Sale
$599,999
The residence has three bedrooms, three full baths, and an updated kitchen and bathrooms.
Property Size1,700 SF
Price / SF$352.94
Days on Market220
Property Features for 2108 CHESAPEAKE HARBOUR DRIVE Unit 201
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
Bay View pool
kayak beach
tennis court
pickleball court
community pier
marina
The Beacon restaurant/bar
Building Details
Building Size
Year Built
Listing Agency:
Compass
Listed By:
Lorna Kaim · License #665299
(856) 986-2642
Source:
Chesapeakerealestateassociates
Added: Apr 2
Changed: Nov 7
Last Checked: Nov 7 at 1:58PM
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 Compass
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Investment Insights
Based on property information with market context.
This Annapolis condominium was built in 1989 and has three bedrooms and three full bathrooms. The kitchen and bathrooms have been updated. The home is in the Second Village section of Chesapeake Harbour, with a seasonal water view when surrounding leaves are down.
Community amenities include two pools, tennis and pickleball courts, a kayak beach, and two piers on Chesapeake Bay. Chase Pond and Bay View pool are a short walk away. The marina, Beacon, and Proud Mary’s are also part of the described community setting. Historic downtown Annapolis offers restaurants and shopping.
Community amenities include two pools, tennis and pickleball courts, a kayak beach, and two piers on Chesapeake Bay. Chase Pond and Bay View pool are a short walk away. The marina, Beacon, and Proud Mary’s are also part of the described community setting. Historic downtown Annapolis offers restaurants and shopping.
Key Highlights
- Three bedrooms and three full bathrooms
- Updated kitchen and bathrooms
- Seasonal water view when surrounding leaves are down
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,943
Cap Rate
3.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,860
$458.9K
Cap Rate 7%
$327,757
$327.8K
Cap Rate 9%
$254,922
$254.9K
Market Conditions
NOI Build-Up for 1,700 SF
Gross rent
$44.5K $26.16/SF
− Vacancy
−$2.8K −$1.62/SF
EGI
$41.7K $24.54/SF
− OpEx
−$18.8K −$11.04/SF
NOI
$22.9K $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%
$458,860
Cap Rate 7%
$327,757
Cap Rate 9%
$254,922
Alternative Uses
Best Use
Apartment 5plus
$327.8K
$286.8K – $382.4K
NOI $22,943 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$497.3K
$435.1K – $580.2K
NOI $34,811 @ 7.0% cap · market cap 5.80%
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
246
Businesses Nearby
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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
$566,900
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Anne Arundel County, MD
Properties on Market for Residential income properties in Anne Arundel County
Frequently Asked Questions
What type of property is this?
Residential income property - The residence has three bedrooms, three full baths, and an updated kitchen and bathrooms.
Where is this residential income property located?
The property is located at 2108 CHESAPEAKE HARBOUR DRIVE Unit 201 Annapolis, MD.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Three bedrooms and three full bathrooms; Updated kitchen and bathrooms; Seasonal water view when surrounding leaves are down
