Updated Residential Income
For Sale
$195,000
2925 KATEWOOD COURT Unit 5-2925, Baltimore, MD 21209
Condominium with renovated baths, a private balcony, and a kitchen equipped for everyday meals and entertaining.
Property Size1,060 SF
Days on Market21
Property Features for 2925 KATEWOOD COURT Unit 5-2925
General Information
Standard status
Active
Size
1,060 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$1,818
Amenities
private balcony
Building Details
Building Size
1,060 SF
Year Built
1994
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(410) 790-2351
Listed By:
Athina Garcia · License #17679
(410) 790-2351
Source:
Thehulsmangroup
Added: Aug 2
Changed: Aug 21
Last Checked: Aug 22 at 10:42AM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
Built in 1994, this condominium offers a practical residential layout with an ensuite owner's bedroom and a newly remodeled private bathroom. The hall bathroom was renovated in 2023. Main living areas feature laminate wood flooring, while the bedrooms have carpeting. The kitchen includes stainless steel appliances, generous counter space, and a breakfast bar. A separate dining area, spacious living room, laundry room, and private balcony round out the interior and outdoor features.
The HVAC system was replaced in 2022, adding a recent mechanical update to the property. Located in Baltimore, Maryland, the unit combines refreshed finishes with a functional multi-room configuration.
The HVAC system was replaced in 2022, adding a recent mechanical update to the property. Located in Baltimore, Maryland, the unit combines refreshed finishes with a functional multi-room configuration.
Key Highlights
- Ensuite owner's bedroom with newly remodeled private bathroom
- Hall bathroom renovated in 2023
- HVAC system replaced in 2022
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
$13,810
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
7.08%
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%
$276,200
$276.2K
Cap Rate 7%
$197,286
$197.3K
Cap Rate 9%
$153,444
$153.4K
Market Conditions
NOI Build-Up for 1,060 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
$26.7K $25.20/SF
− Vacancy
−$1.6K −$1.51/SF
EGI
$25.1K $23.69/SF
− OpEx
−$11.3K −$10.66/SF
NOI
$13.8K $13.03/SF
Area
Baltimore, MD
Vacancy
6.00%
Lease Rate
$25.20 /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%
$276,200
Cap Rate 7%
$197,286
Cap Rate 9%
$153,444
Alternative Uses
Best Use
Apartment 5plus
$197.3K
$172.6K – $230.2K
NOI $13,810 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$253.9K
$222.2K – $296.3K
NOI $17,776 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
512
Businesses Nearby
Explore this area
Business Placement
Demographics for 21209, MD
28,659
Population
12,086
Households
2.4
Avg Household Size
37
Median Age
60%
College-Educated
96%
High-School Grad
6.5 sq mi
ZIP Area
4,409
Density / Sq Mi
$87,669
Median Household Income
$57,694
Median Earnings
$1,640
Median Rent
$418,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium with renovated baths, a private balcony, and a kitchen equipped for everyday meals and entertaining.
Where is this residential income property located?
The property is located at 2925 KATEWOOD COURT Unit 5-2925 Baltimore, MD.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Ensuite owner's bedroom with newly remodeled private bathroom; Hall bathroom renovated in 2023; HVAC system replaced in 2022
