Residential Income Property with
For Sale
$385,000
2711 SUMMERVIEW WAY Unit 203, Annapolis, MD 21401
Residents have access to community water, tennis courts, a playground, and walking trails.
Property Size1,266 SF
Days on Market9
Property Features for 2711 SUMMERVIEW WAY Unit 203
General Information
Standard status
Active
Size
1,266 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,477
Amenities
water access
tennis courts
playground
walking trails
Building Details
Building Size
1,266 SF
Year Built
1991
Listing Agency:
Monument Sotheby's International Realty
Listed By:
Carol Snyder · License #632028
(410) 271-5448
Source:
Bradkappel
Added: Sep 27
Changed: Oct 3
Last Checked: Oct 4 at 2:18PM
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 Monument Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 2-bedroom, 2-bath condominium features an open living and dining area, a fireplace, and a sunroom. The renovated kitchen includes white shaker cabinetry, quartz counters, stainless steel appliances, and a breakfast bar. The primary suite has a walk-in closet, an updated ensuite bath with dual sinks, and balcony access. Luxury vinyl plank flooring and modern fixtures are present throughout. The property was built in 1991.
Community amenities include water access, tennis courts, a playground, and walking trails. Downtown Annapolis, the Naval Academy, shopping, dining, and major commuter routes are described as minutes away.
Community amenities include water access, tennis courts, a playground, and walking trails. Downtown Annapolis, the Naval Academy, shopping, dining, and major commuter routes are described as minutes away.
Key Highlights
- Two bedrooms and two full bathrooms
- Sunroom, fireplace, and balcony access
- Renovated kitchen with quartz counters and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,086
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$341,720
$341.7K
Cap Rate 7%
$244,086
$244.1K
Cap Rate 9%
$189,844
$189.8K
Market Conditions
NOI Build-Up for 1,266 SF
Gross rent
$33.1K $26.16/SF
− Vacancy
−$2.1K −$1.62/SF
EGI
$31.1K $24.54/SF
− OpEx
−$14.0K −$11.04/SF
NOI
$17.1K $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%
$341,720
Cap Rate 7%
$244,086
Cap Rate 9%
$189,844
Alternative Uses
Best Use
Apartment 5plus
$244.1K
$213.6K – $284.8K
NOI $17,086 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$370.3K
$324.1K – $432.1K
NOI $25,924 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
647
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Residents have access to community water, tennis courts, a playground, and walking trails.
Where is this residential income property located?
The property is located at 2711 SUMMERVIEW WAY Unit 203 Annapolis, MD.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two bedrooms and two full bathrooms; Sunroom, fireplace, and balcony access; Renovated kitchen with quartz counters and stainless steel appliances
