Two-Bedroom Residential Income
For Sale
$399,000
3422 ANGELICA WAY #103, Frederick, MD 21704
FREDERICK, MD
Property Size1,500 SF
Price / SF$266
Days on Market201
Property Features for 3422 ANGELICA WAY #103
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2
Subdivision
THE WOODLANDS
Elementary school
URBANA
Middle school
URBANA
High school
URBANA
Elementary school district
FREDERICK COUNTY PUBLIC SCHOOLS
Middle school district
FREDERICK COUNTY PUBLIC SCHOOLS
High school district
FREDERICK COUNTY PUBLIC SCHOOLS
Standard status
Active
Amenities
private clubhouse
fitness center
yoga studio
outdoor pool
pickleball courts
bocce courts
putting green
walking trails
game room
club room
social gathering spaces
Building Details
Year built
2022
Listing Agency:
Northrop - Frederick/Urbana
(240) 680-1515
Listed By:
Rich Phillips
(888) 536-0216
Added: Mar 19
Changed: Sep 15
Last Checked: Oct 5 at 9:06PM
MLS# MDFR2076526
Copyright © 2026 Long & Foster Real Estate. 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.
Built in 2022, this residential income property offers nearly 1,500 square feet with two bedrooms, two full baths, and an open living and dining arrangement. The kitchen includes granite countertops, stainless steel appliances, extensive cabinetry, a pantry, and a center island with breakfast-bar seating. A private balcony, separate laundry room, walk-in closet, dual-vanity primary bath, and attached one-car garage add practical utility. Elevator access supports single-level living, while brand-new carpet appears in the living and dining areas.
Community amenities include a private clubhouse, fitness center, yoga studio, outdoor pool, pickleball and bocce courts, putting green, walking trails, game and club rooms, and social gathering areas. The property is located near the Urbana Market District, shopping, dining, the Urbana Regional Library, and major commuter routes.
Community amenities include a private clubhouse, fitness center, yoga studio, outdoor pool, pickleball and bocce courts, putting green, walking trails, game and club rooms, and social gathering areas. The property is located near the Urbana Market District, shopping, dining, the Urbana Regional Library, and major commuter routes.
Key Highlights
- Nearly 1,500 square feet with 2 bedrooms and 2 full baths
- Built in 2022 with brand‑new carpet in the living and dining areas
- Attached Private one‑car garage and driveway space for 1 car
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,409
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$408,180
$408.2K
Cap Rate 7%
$291,557
$291.6K
Cap Rate 9%
$226,767
$226.8K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$39.1K $26.04/SF
− Vacancy
−$2.0K −$1.30/SF
EGI
$37.1K $24.74/SF
− OpEx
−$16.7K −$11.13/SF
NOI
$20.4K $13.61/SF
Area
Frederick County, MD
Vacancy
5.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$408,180
Cap Rate 7%
$291,557
Cap Rate 9%
$226,767
Alternative Uses
Best Use
Apartment 5plus
$291.6K
$255.1K – $340.2K
NOI $20,409 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$555.8K
$486.4K – $648.5K
NOI $38,908 @ 7.0% cap · market cap 9.75%
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
670
Businesses Nearby
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Business Placement
Demographics for 21704, MD
19,275
Population
6,230
Households
3.1
Avg Household Size
37
Median Age
58%
College-Educated
96%
High-School Grad
26.6 sq mi
ZIP Area
725
Density / Sq Mi
$164,457
Median Household Income
$82,145
Median Earnings
$2,395
Median Rent
$585,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Elevator-served residence with garage parking, a private balcony, and access to extensive 55 community amenities.
Where is this residential income property located?
The property is located at 3422 ANGELICA WAY #103 Frederick, MD.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Nearly 1,500 square feet with 2 bedrooms and 2 full baths; Built in 2022 with brand‑new carpet in the living and dining areas; Attached Private one‑car garage and driveway space for 1 car
