Top-Floor Residential Income
New
For Sale
$364,900
2161 SCOTTS CROSSING COURT Unit 302, Annapolis, MD 21401
Updated three-bedroom condominium with wooded views, private patio, and convenient access to downtown Annapolis.
Property Size1,328 SF
Price / SF$276.44
Days on Market4
Property Features for 2161 SCOTTS CROSSING COURT Unit 302
General Information
Standard status
Active
Size
1,328 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,752
Amenities
breakfast nook
bay window
hardwood floors
9+ ft ceilings
gas fireplace
private patio
vaulted ceiling
dedicated laundry room
off-street parking
Building Details
Building Size
1,328 SF
Year Built
2001
Listing Agency:
Keller Williams Capital Properties
Listed By:
Sheena Saydam · License #638126
(202) 793-3000
Source:
Bradkappel
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 5 at 3:35PM
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 Capital Properties
Investment Insights
Based on property information with market context.
This 2001-built, top-floor condominium offers more than 1,320 square feet with three bedrooms and two bathrooms. The interior includes fresh paint completed in 2026, hardwood flooring, 9+ ft ceilings, a gas fireplace, and a living and dining area opening to a private patio. The kitchen combines wood cabinetry, granite countertops, a tiled backsplash, stainless steel appliances, and a bay-window breakfast nook. The primary suite features a vaulted ceiling, bay window, two closets, and an ensuite bath with a dual-sink vanity and tub/shower combination. Two additional bedrooms share a full bathroom with a walk-in shower. A dedicated laundry room includes storage and a full-sized washer and dryer. Newer HVAC installed in 2021, a 2022 water heater, and new carpet from 2026 add to the property's recent improvements. Off-street parking is available, with Bestgate Park, Trader Joe's, Annapolis Mall, and major highways nearby.
Key Highlights
- Top‑floor 3‑bedroom, 2‑bath condominium with more than 1,320 square feet
- Fresh paint and new carpet completed in 2026
- Hardwood floors, 9+ ft ceilings, gas fireplace, and private patio
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
$17,815
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
4.88%
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%
$356,300
$356.3K
Cap Rate 7%
$254,500
$254.5K
Cap Rate 9%
$197,944
$197.9K
Market Conditions
NOI Build-Up for 1,320 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
$34.5K $26.16/SF
− Vacancy
−$2.1K −$1.62/SF
EGI
$32.4K $24.54/SF
− OpEx
−$14.6K −$11.04/SF
NOI
$17.8K $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 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%
$356,300
Cap Rate 7%
$254,500
Cap Rate 9%
$197,944
Alternative Uses
Best Use
Apartment 5plus
$254.5K
$222.7K – $296.9K
NOI $17,815 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$386.1K
$337.9K – $450.5K
NOI $27,029 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,532
Businesses Nearby
Explore this area
Business Placement
Demographics for 21401, MD
39,308
Population
19,293
Households
2
Avg Household Size
44
Median Age
61%
College-Educated
96%
High-School Grad
19.9 sq mi
ZIP Area
1,975
Density / Sq Mi
$119,296
Median Household Income
$67,845
Median Earnings
$2,106
Median Rent
$580,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated three-bedroom condominium with wooded views, private patio, and convenient access to downtown Annapolis.
Where is this residential income property located?
The property is located at 2161 SCOTTS CROSSING COURT Unit 302 Annapolis, MD.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: Top‑floor 3‑bedroom, 2‑bath condominium with more than 1,320 square feet; Fresh paint and new carpet completed in 2026; Hardwood floors, 9+ ft ceilings, gas fireplace, and private patio
