Residential Income Property with
For Sale
$315,000
308 WILLRICH CIRCLE Unit J, Forest Hill, MD 21050
The two-bedroom residence includes an attached garage, assigned parking, and a separate private storage unit.
Property Size1,340 SF
Price / SF$235.07
Days on Market56
Property Features for 308 WILLRICH CIRCLE Unit J
General Information
Standard status
Active
Size
1,340 SF
Total Parking Spaces
1
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,779
Amenities
private covered balcony
separate laundry room
private storage unit
Building Details
Building Size
1,340 SF
Year Built
2003
Listing Agency:
Cummings & Co. Realtors
Listed By:
Kelly Hacke · License #632190
(443) 996-4975
Source:
Ghimirehomes
Added: Sep 5
Changed: Oct 27
Last Checked: Oct 26 at 2:40PM
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 Cummings & Co. Realtors
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Investment Insights
Based on property information with market context.
This 1,340-square-foot, third-floor condominium was built in 2003 and has two bedrooms and two full bathrooms. Its layout includes a separate dining room, a living room with access to a covered private balcony, and a kitchen with stainless steel appliances and a breakfast bar. A separate laundry room includes a full-size washer and dryer. The primary suite has a private bath and walk-in closet; additional storage is available throughout the home and in a private storage unit that conveys with the property.
Wood flooring was installed in 2018, and the HVAC system was replaced in 2020. The home has also been freshly painted and has new carpet. An attached garage and one assigned parking space are included.
Wood flooring was installed in 2018, and the HVAC system was replaced in 2020. The home has also been freshly painted and has new carpet. An attached garage and one assigned parking space are included.
Key Highlights
- 1,340‑square‑foot, third‑floor condominium
- Two bedrooms and two full bathrooms
- Covered private balcony off the living room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,944
Cap Rate
5.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,880
$358.9K
Cap Rate 7%
$256,343
$256.3K
Cap Rate 9%
$199,378
$199.4K
Market Conditions
NOI Build-Up for 1,340 SF
Gross rent
$34.9K $26.04/SF
− Vacancy
−$2.3K −$1.69/SF
EGI
$32.6K $24.35/SF
− OpEx
−$14.7K −$10.96/SF
NOI
$17.9K $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 Rate 5%
$358,880
Cap Rate 7%
$256,343
Cap Rate 9%
$199,378
Alternative Uses
Best Use
Apartment 5plus
$256.3K
$224.3K – $299.1K
NOI $17,944 @ 7.0% cap · market cap 5.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$471.5K
$412.6K – $550.1K
NOI $33,004 @ 7.0% cap · market cap 10.48%
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
379
Businesses Nearby
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Business Placement
Demographics for 21050, MD
18,681
Population
6,507
Households
2.9
Avg Household Size
44
Median Age
47%
College-Educated
96%
High-School Grad
29.0 sq mi
ZIP Area
644
Density / Sq Mi
$123,750
Median Household Income
$69,489
Median Earnings
$1,646
Median Rent
$439,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom residence includes an attached garage, assigned parking, and a separate private storage unit.
Where is this residential income property located?
The property is located at 308 WILLRICH CIRCLE Unit J Forest Hill, MD.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,340‑square‑foot, third‑floor condominium; Two bedrooms and two full bathrooms; Covered private balcony off the living room
