Residential Income Property with
For Sale
$400,000
2120 TROON OVERLOOK Unit J205, Woodstock, MD 21163
Second-floor condominium with extensive recent improvements, private storage, and access to community recreation.
Property Size1,485 SF
Days on Market8
Property Features for 2120 TROON OVERLOOK Unit J205
General Information
Standard status
Active
Size
1,485 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,576
Amenities
fitness center
playground
pool
tennis courts
Building Details
Building Size
1,485 SF
Year Built
2003
Listing Agency:
Keller Williams Realty Centre
(301) 524-2887
Listed By:
Robert J Krop · License #35299
(301) 524-2887
Source:
Thehulsmangroup
Added: Aug 20
Changed: Aug 24
Last Checked: Aug 26 at 1:13PM
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 Keller Williams Realty Centre
Investment Insights
Based on property information with market context.
This second-floor condominium at 2120 Troon Overlook, Unit J205, features three bedrooms, two full bathrooms, and over 1,400 square feet of living area. The interior has been refreshed with LVP flooring and carpeting installed in 2022, granite kitchen countertops added in 2022, and updated appliances from 2022–2023. A water heater was replaced in 2022, windows were renewed in 2023, and Hunter Douglas powered blinds were installed throughout in 2023.
The property includes one deeded one-car garage and a private 6' x 6' storage unit. Community amenities include a fitness center, playground, swimming pool, and tennis courts. Grocery shopping and interstate access are located nearby. Built in 2003, the residence combines a three-bedroom layout with substantial recent updates and dedicated parking and storage.
The property includes one deeded one-car garage and a private 6' x 6' storage unit. Community amenities include a fitness center, playground, swimming pool, and tennis courts. Grocery shopping and interstate access are located nearby. Built in 2003, the residence combines a three-bedroom layout with substantial recent updates and dedicated parking and storage.
Key Highlights
- Three‑bedroom, two‑bath condominium with over 1,400 square feet
- One deeded one‑car garage plus a private 6' x 6' storage unit
- LVP flooring and carpeting installed in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,247
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$404,940
$404.9K
Cap Rate 7%
$289,243
$289.2K
Cap Rate 9%
$224,967
$225.0K
Market Conditions
NOI Build-Up for 1,485 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$38.7K $26.04/SF
− Vacancy
−$1.9K −$1.25/SF
EGI
$36.8K $24.79/SF
− OpEx
−$16.6K −$11.16/SF
NOI
$20.2K $13.63/SF
Area
Howard County, MD
Vacancy
4.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$404,940
Cap Rate 7%
$289,243
Cap Rate 9%
$224,967
Alternative Uses
Best Use
Apartment 5plus
$289.2K
$253.1K – $337.5K
NOI $20,247 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$550.7K
$481.9K – $642.5K
NOI $38,550 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
Explore this area
Business Placement
Demographics for 21163, MD
7,657
Population
2,693
Households
2.8
Avg Household Size
45
Median Age
61%
College-Educated
98%
High-School Grad
13.6 sq mi
ZIP Area
563
Density / Sq Mi
$131,154
Median Household Income
$70,903
Median Earnings
$1,370
Median Rent
$598,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor condominium with extensive recent improvements, private storage, and access to community recreation.
Where is this residential income property located?
The property is located at 2120 TROON OVERLOOK Unit J205 Woodstock, MD.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Three‑bedroom, two‑bath condominium with over 1,400 square feet; One deeded one‑car garage plus a private 6' x 6' storage unit; LVP flooring and carpeting installed in 2022
