Cape Cod Residential Income
For Sale
$379,500
21379 MOUNT LENA ROAD, Boonsboro, MD 21713
Electric heating and cooling, off-street parking, and unfinished space with exterior access support the property’s practical configuration.
Property Size1,500 SF
Price / SF$253
Days on Market132
Property Features for 21379 MOUNT LENA ROAD
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Residential Income
Zoning
RV
Taxes and HOA fees
Annual Taxes
$2,193
Amenities
Window Unit(s), Electric
Electric, Forced Air
Exterior Entry, Unfinished
Electric Range, Electric Oven, Cooktop, Electric Water Heater, Refrigerator
Off Street
Cape Cod
Building Details
Building Size
1,500 SF
Year Built
1991
Listing Agency:
(301) 992-6444
Listed By:
Tracey F Rotz
(301) 992-6444
Source:
Evrealestate
Added: Apr 22
Changed: Aug 30
Last Checked: Aug 30 at 4:49PM
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 Tracey F Rotz
Investment Insights
Based on property information with market context.
This Cape Cod-style residential income property in Washington County was built in 1991 and offers a straightforward residential configuration. Interior features include electric forced-air heat, window-unit cooling, an electric range, oven, cooktop, water heater, and refrigerator. Unfinished space with exterior entry adds functional utility without overstating the layout.
The property is located at 21379 Mount Lena Road in Boonsboro, Maryland, and carries RV zoning. Off-street parking is included among the exterior features. The available information identifies the asset as a residential income property without specifying a unit count or detailed floor-plan arrangement.
The property is located at 21379 Mount Lena Road in Boonsboro, Maryland, and carries RV zoning. Off-street parking is included among the exterior features. The available information identifies the asset as a residential income property without specifying a unit count or detailed floor-plan arrangement.
Key Highlights
- Cape Cod‑style residential income property built in 1991
- RV zoning
- Electric forced‑air heat and window‑unit cooling
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
$14,117
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
3.72%
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%
$282,340
$282.3K
Cap Rate 7%
$201,671
$201.7K
Cap Rate 9%
$156,856
$156.9K
Market Conditions
NOI Build-Up for 1,500 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
$27.5K $18.36/SF
− Vacancy
−$1.9K −$1.25/SF
EGI
$25.7K $17.11/SF
− OpEx
−$11.6K −$7.70/SF
NOI
$14.1K $9.41/SF
Area
Washington County, MD
Vacancy
6.80%
Lease Rate
$18.36 /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%
$282,340
Cap Rate 7%
$201,671
Cap Rate 9%
$156,856
Alternative Uses
Best Use
Apartment 5plus
$201.7K
$176.5K – $235.3K
NOI $14,117 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$332.7K
$291.1K – $388.2K
NOI $23,291 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 21713, MD
9,800
Population
4,109
Households
2.4
Avg Household Size
45
Median Age
28%
College-Educated
92%
High-School Grad
39.6 sq mi
ZIP Area
247
Density / Sq Mi
$101,585
Median Household Income
$58,929
Median Earnings
$1,224
Median Rent
$348,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Electric heating and cooling, off-street parking, and unfinished space with exterior access support the property’s practical configuration.
Where is this residential income property located?
The property is located at 21379 MOUNT LENA ROAD Boonsboro, MD.
What is the asking price?
The asking price for this property is $379,500.
What are key features of this property?
This property features: Cape Cod‑style residential income property built in 1991; RV zoning; Electric forced‑air heat and window‑unit cooling
