Building Details

Year Built 1985

Listing Agency: CENTURY 21 New Millennium t***@c21nm.com Show Phone

Listed By: Conor M Loughran · License #626863 Show Phone

Source: Cummingsrealtors

Added: Sep 15 Changed: Sep 23 Last Checked: Sep 22 at 3:31PM

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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 CENTURY 21 New Millennium

Investment Insights

Based on property information with market context.

Located at 23311 Sugar Maple Court #12B in California, Maryland, this 759-square-foot condominium was built in 1985 and is positioned on the top floor. The residence includes one bedroom, one full bathroom, generous closet space, and a dedicated laundry room with additional storage. Recent improvements include new flooring, fresh paint, stainless steel appliances, newer HVAC, and a newer hot water heater.

Residents have access to community common areas and a community pool, subject to applicable availability. The property is situated near NAS Patuxent River, shopping, dining, and everyday amenities.

Key Highlights

• 759‑square‑foot top‑floor condominium
• 1 bedroom and 1 full bathroom
• New flooring, fresh paint, and stainless steel appliances

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

$7,063

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

3.82%

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%

$141,260 $141.3K

Cap Rate 7%

$100,900 $100.9K

Cap Rate 9%

$78,478 $78.5K

Market Conditions

NOI Build-Up for 759 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

$13.7K $18.00/SF

− Vacancy

−$820 −$1.08/SF

EGI

$12.8K $16.92/SF

− OpEx

−$5.8K −$7.61/SF

NOI

$7.1K $9.31/SF

Area

St. Mary's County, MD

Vacancy

6.00%

Lease Rate

$18.00 /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%

$141,260

Cap Rate 7%

$100,900

Cap Rate 9%

$78,478

Alternative Uses

Best Use

Apartment 5plus

$100.9K

$88.3K – $117.7K (±1% cap)

NOI $7,063 @ 7.0% cap · market cap 3.82%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$281.5K

$246.3K – $328.4K (±1% cap)

NOI $19,703 @ 7.0% cap · market cap 10.65%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Residential income properties

Suggested Use

Top Pick Real Estate Agency Law Firm Auto Parts Store Building Supply Dental Office Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

290

Businesses Nearby

Explore this area Business Placement

Demographics for 20619, MD

14,179

Population

6,028

Households

2.4

Avg Household Size

35

Median Age

48%

College-Educated

96%

High-School Grad

16.1 sq mi

ZIP Area

881

Density / Sq Mi

$114,848

Median Household Income

$72,218

Median Earnings

$2,015

Median Rent

$364,200

Median Home Value

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Residential income property - One-bedroom condo with updated finishes, private upper-level placement, and access to community amenities.

Where is this residential income property located?

The property is located at 23311 SUGAR MAPLE COURT #12B California, MD.

What is the asking price?

The asking price for this property is $185,000.

What are key features of this property?

This property features: 759‑square‑foot top‑floor condominium; 1 bedroom and 1 full bathroom; New flooring, fresh paint, and stainless steel appliances