Three-Bedroom Residential Income
For Sale
$299,999
3 RUMFORD DRIVE Unit 303, Baltimore, MD 21228
Three-bedroom, two-bath condominium with cathedral ceilings and a private balcony in a low-maintenance community.
Property Size1,223 SF
Days on Market52
Property Features for 3 RUMFORD DRIVE Unit 303
General Information
Standard status
Active
Size
1,223 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$2,800
Building Details
Building Size
1,223 SF
Year Built
1989
Listing Agency:
Douglas Realty LLC
Listed By:
Darby L McKaine · License #534965
(443) 253-4059
Source:
Thehulsmangroup
Added: Aug 29
Changed: Oct 6
Last Checked: Oct 16 at 4:51PM
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 Douglas Realty LLC
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Investment Insights
Based on property information with market context.
This condominium offers three bedrooms and two bathrooms within a residential income property classification. Cathedral ceilings create an open interior volume, while natural light reaches each room. A private balcony adds outdoor space for everyday use or entertaining, and the community provides a low-maintenance ownership setting.
The home is situated on a quiet dead-end street in Catonsville, near restaurants, shops, a park, and walking trails. The property was built in 1989 and combines a residential floor plan with features suited to condominium living.
The home is situated on a quiet dead-end street in Catonsville, near restaurants, shops, a park, and walking trails. The property was built in 1989 and combines a residential floor plan with features suited to condominium living.
Key Highlights
- Three‑bedroom, two‑bath condominium
- Cathedral ceilings and natural light throughout the interior
- Private balcony for outdoor space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,934
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$318,680
$318.7K
Cap Rate 7%
$227,629
$227.6K
Cap Rate 9%
$177,044
$177.0K
Market Conditions
NOI Build-Up for 1,223 SF
Gross rent
$30.8K $25.20/SF
− Vacancy
−$1.8K −$1.51/SF
EGI
$29.0K $23.69/SF
− OpEx
−$13.0K −$10.66/SF
NOI
$15.9K $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 Rate 5%
$318,680
Cap Rate 7%
$227,629
Cap Rate 9%
$177,044
Alternative Uses
Best Use
Apartment 5plus
$227.6K
$199.2K – $265.6K
NOI $15,934 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$293.0K
$256.4K – $341.8K
NOI $20,510 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Explore this area
Business Placement
Demographics for 21228, MD
50,418
Population
20,357
Households
2.5
Avg Household Size
42
Median Age
50%
College-Educated
92%
High-School Grad
15.6 sq mi
ZIP Area
3,232
Density / Sq Mi
$107,714
Median Household Income
$59,038
Median Earnings
$1,631
Median Rent
$389,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom, two-bath condominium with cathedral ceilings and a private balcony in a low-maintenance community.
Where is this residential income property located?
The property is located at 3 RUMFORD DRIVE Unit 303 Baltimore, MD.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Three‑bedroom, two‑bath condominium; Cathedral ceilings and natural light throughout the interior; Private balcony for outdoor space
