Residential Land with Townhouse
For Sale
$219,333
301 NORTHEAST Road, Aberdeen, MD 21001
MULTI_FAMILY - Cottage - ABERDEEN, MD
Property Size801 SF
Lot Size1.60 Acres
Price / SF$273.82
Days on Market885
Property Features for 301 NORTHEAST Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Parking features
Driveway, Off Street
Elementary school district
HARFORD COUNTY PUBLIC SCHOOLS
Middle school district
HARFORD COUNTY PUBLIC SCHOOLS
High school district
HARFORD COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
801 SF
Lot size
1.60 Acres
Taxes and HOA fees
Tax Annual Amount
2020
Utilities
Heating system
Heat Pump (Heating)
Building Details
Year built
1949
Number of units
1
Building materials
Frame
Architectural style
Cottage
Listing Agency:
Weichert, Realtors - Diana Realty
(410) 893-1200
Listed By:
Steve R Kuzma · License #29833
(410) 808-1010
Added: Mar 26, 2024
Changed: Aug 7
Last Checked: Aug 27 at 2:06PM
MLS# MDHR2030180
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 301 NEAST Road in Aberdeen, Maryland, this 1.6-acre residential parcel is zoned R3 (described as high density zoning). The R3 framework supports a mix of housing types, including condos, apartments, or townhouses, and the materials include proposed sketch ideas for up to eight townhouses.
The site also includes a current building that is rented, so showings must be coordinated and tenants should not be disturbed. Bright docs referenced in the listing provide additional detail on the proposed sketches.
For buyers or developers considering a small-scale multifamily or attached housing project, the property’s R3 zoning and the stated maximum of eight townhouses offer a clear planning starting point. Because the existing structure is currently occupied, schedules and access should be arranged through the listing broker to ensure a smooth, tenant-respecting showing process and to support any review of the proposed site concepts.
The site also includes a current building that is rented, so showings must be coordinated and tenants should not be disturbed. Bright docs referenced in the listing provide additional detail on the proposed sketches.
For buyers or developers considering a small-scale multifamily or attached housing project, the property’s R3 zoning and the stated maximum of eight townhouses offer a clear planning starting point. Because the existing structure is currently occupied, schedules and access should be arranged through the listing broker to ensure a smooth, tenant-respecting showing process and to support any review of the proposed site concepts.
Key Highlights
- 1.6‑acre property with R3 high‑density zoning that allows condos, apartments, or townhouses
- R3 zoning supports up to 8 townhouses (see bright docs for proposed sketches)
- Existing building built in 1949 with frame construction
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
$10,726
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
4.89%
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%
$214,520
$214.5K
Cap Rate 7%
$153,229
$153.2K
Cap Rate 9%
$119,178
$119.2K
Market Conditions
NOI Build-Up for 801 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
$20.9K $26.04/SF
− Vacancy
−$1.4K −$1.69/SF
EGI
$19.5K $24.35/SF
− OpEx
−$8.8K −$10.96/SF
NOI
$10.7K $13.39/SF
Area
Harford County, MD
Vacancy
6.50%
Lease Rate
$26.04 /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%
$214,520
Cap Rate 7%
$153,229
Cap Rate 9%
$119,178
Alternative Uses
Best Use
Apartment 5plus
$153.2K
$134.1K – $178.8K
NOI $10,726 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$281.8K
$246.6K – $328.8K
NOI $19,729 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
Business Placement
Demographics for 21001, MD
25,714
Population
11,010
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
92%
High-School Grad
30.0 sq mi
ZIP Area
857
Density / Sq Mi
$81,778
Median Household Income
$49,765
Median Earnings
$1,391
Median Rent
$267,400
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - A 1.6-acre R3-zoned parcel allowing condos, apartments, or townhouses with sketches for up to eight homes.
Where is this single family property located?
The property is located at 301 NORTHEAST Road Aberdeen, MD.
What is the asking price?
The asking price for this property is $219,333.
What are key features of this property?
This property features: 1.6‑acre property with R3 high‑density zoning that allows condos, apartments, or townhouses; R3 zoning supports up to 8 townhouses (see bright docs for proposed sketches); Existing building built in 1949 with frame construction
