Corner Residential
For Sale
$395,000
2520 WATERSIDE DRIVE Unit 108, Frederick, MD 21701
A sunroom, two en-suite baths, and two garage parking spaces complement the flexible main-level layout.
Property Size1,493 SF
Price / SF$264.57
Days on Market29
Property Features for 2520 WATERSIDE DRIVE Unit 108
General Information
Standard status
Active
Size
1,493 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,878
Building Details
Building Size
1,493 SF
Year Built
2002
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Kerry A Mandrik · License #324866
(301) 831-0333
Source:
Catoctinproperties
Added: Sep 29
Changed: Oct 26
Last Checked: Oct 26 at 2:09PM
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 Long & Foster Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This 1,493-square-foot main-level corner residence was built in 2002. Its layout includes a living room with a fireplace, a bright sunroom, and a formal dining room with a gas fireplace. The updated kitchen has new appliances and a breakfast area. The primary suite includes multiple closets, an en-suite bath with a walk-in shower, and a sitting area; a second bedroom or office has its own en-suite bath. New flooring, lighting, and HVAC are also included, along with two garage parking spaces.
Key Highlights
- 1,493‑square‑foot main‑level corner unit
- Two en‑suite bathrooms, including a primary bath with a walk‑in shower
- Two garage parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,314
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$406,280
$406.3K
Cap Rate 7%
$290,200
$290.2K
Cap Rate 9%
$225,711
$225.7K
Market Conditions
NOI Build-Up for 1,493 SF
Gross rent
$38.9K $26.04/SF
− Vacancy
−$1.9K −$1.30/SF
EGI
$36.9K $24.74/SF
− OpEx
−$16.6K −$11.13/SF
NOI
$20.3K $13.61/SF
Area
Frederick County, MD
Vacancy
5.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$406,280
Cap Rate 7%
$290,200
Cap Rate 9%
$225,711
Alternative Uses
Best Use
Apartment 5plus
$290.2K
$253.9K – $338.6K
NOI $20,314 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$553.2K
$484.1K – $645.4K
NOI $38,726 @ 7.0% cap · market cap 9.80%
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
247
Businesses Nearby
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Business Placement
Demographics for 21701, MD
39,629
Population
18,914
Households
2.1
Avg Household Size
40
Median Age
50%
College-Educated
95%
High-School Grad
39.7 sq mi
ZIP Area
998
Density / Sq Mi
$102,306
Median Household Income
$59,381
Median Earnings
$1,607
Median Rent
$404,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A sunroom, two en-suite baths, and two garage parking spaces complement the flexible main-level layout.
Where is this residential income property located?
The property is located at 2520 WATERSIDE DRIVE Unit 108 Frederick, MD.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 1,493‑square‑foot main‑level corner unit; Two en‑suite bathrooms, including a primary bath with a walk‑in shower; Two garage parking spaces
