Top-Floor Residential Income
2412 CHESTNUT TERRACE COURT Unit 302, Odenton, MD 21113
For Sale
$344,900
The two-bedroom condo includes a private balcony with an attached storage shed.
Property Size1,404 SF
Days on Market36
Property Features for 2412 CHESTNUT TERRACE COURT Unit 302
General Information
Standard status
Size
Elevators
Property subtype
Additional Details
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
private balcony
community center
fitness center
party rooms
indoor lap pool
outdoor pools
playgrounds
tennis courts
lake
walking paths
nature preserve
Building Details
Building Size
Year Built
Listing Agency:
RE/MAX Leading Edge
Listed By:
Scott B Smolen · License MD #520450
(301) 651-1261
Source:
Bradkappel
Added: Oct 7
Changed: Nov 9
Last Checked: Nov 10 at 2:44PM
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 RE/MAX Leading Edge
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Investment Insights
Based on property information with market context.
This top-level, two-bedroom condo is in an elevator-served building with controlled entry. Its layout includes a living room, separate dining area, breakfast room, and remodeled kitchen. Vaulted ceilings and natural light complement luxury vinyl plank flooring in the kitchen, living and dining areas, and second bedroom. The primary suite has two closets and a remodeled private bath completed in 2023; the hall bath has also been remodeled. Other updates include fresh interior paint, HVAC, and a hot water heater. A private balcony with a storage shed looks toward wooded surroundings, and there are no units above. The building dates to 1998.
The residence is in the gated Chestnut Terrace neighborhood of Piney Orchard. Piney Orchard Elementary is within walking distance, while Odenton MARC Station, NSA, Fort Meade, and major commuter routes are a short drive away. Community amenities include a center with fitness and party rooms, an indoor lap pool, three outdoor pools, playgrounds, tennis courts, a lake with walking paths, and a nature preserve.
The residence is in the gated Chestnut Terrace neighborhood of Piney Orchard. Piney Orchard Elementary is within walking distance, while Odenton MARC Station, NSA, Fort Meade, and major commuter routes are a short drive away. Community amenities include a center with fitness and party rooms, an indoor lap pool, three outdoor pools, playgrounds, tennis courts, a lake with walking paths, and a nature preserve.
Key Highlights
- Two‑bedroom condo in a top‑floor position with no neighbors overhead
- Private balcony with storage shed and wooded outlook
- Primary bathroom remodeled in 2023; hall bathroom also remodeled
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,948
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$378,960
$379.0K
Cap Rate 7%
$270,686
$270.7K
Cap Rate 9%
$210,533
$210.5K
Market Conditions
NOI Build-Up for 1,404 SF
Gross rent
$36.7K $26.16/SF
− Vacancy
−$2.3K −$1.62/SF
EGI
$34.5K $24.54/SF
− OpEx
−$15.5K −$11.04/SF
NOI
$18.9K $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%
$378,960
Cap Rate 7%
$270,686
Cap Rate 9%
$210,533
Alternative Uses
Best Use
Apartment 5plus
$270.7K
$236.9K – $315.8K
NOI $18,948 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$410.7K
$359.4K – $479.2K
NOI $28,749 @ 7.0% cap · market cap 8.34%
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
218
Businesses Nearby
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Business Placement
Demographics for 21113, MD
35,670
Population
16,103
Households
2.2
Avg Household Size
36
Median Age
51%
College-Educated
98%
High-School Grad
15.0 sq mi
ZIP Area
2,378
Density / Sq Mi
$125,081
Median Household Income
$68,955
Median Earnings
$2,152
Median Rent
$401,900
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Anne Arundel County, MD
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Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom condo includes a private balcony with an attached storage shed.
Where is this residential income property located?
The property is located at 2412 CHESTNUT TERRACE COURT Unit 302 Odenton, MD.
What is the asking price?
The asking price for this property is $344,900.
What are key features of this property?
This property features: Two‑bedroom condo in a top‑floor position with no neighbors overhead; Private balcony with storage shed and wooded outlook; Primary bathroom remodeled in 2023; hall bathroom also remodeled
