Residential Income Property with
For Sale
$484,900
3519 STARLIGHT STREET Unit 401, Frederick, MD 21704
An elevator-served two-bedroom condo features a loft and access to a 55+ active adult community.
Property Size1,734 SF
Price / SF$279.64
Days on Market27
Property Features for 3519 STARLIGHT STREET Unit 401
General Information
Standard status
Active
Size
1,734 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,805
Building Details
Building Size
1,734 SF
Year Built
2023
Listing Agency:
TTR Sotheby's International Realty
Listed By:
Elaine S. Koch · License #100500
(301) 641-5865
Source:
Catoctinproperties
Added: Oct 1
Changed: Oct 26
Last Checked: Oct 26 at 3:44PM
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 TTR Sotheby's International Realty
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Investment Insights
Based on property information with market context.
This 1,734-square-foot condo has two bedrooms, two full bathrooms, an open living and dining area, and a loft. The kitchen includes ample cabinetry and workspace. Recent interior updates include new paint and carpet, and the building has elevator access. The property was built in 2023.
The home is in the Woodlands at Urbana, a 55+ active adult community, with shopping, dining, and everyday services nearby.
The home is in the Woodlands at Urbana, a 55+ active adult community, with shopping, dining, and everyday services nearby.
Key Highlights
- 1,734‑square‑foot condo with two bedrooms and two full bathrooms
- Loft provides additional interior space
- Elevator access in the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,593
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$471,860
$471.9K
Cap Rate 7%
$337,043
$337.0K
Cap Rate 9%
$262,144
$262.1K
Market Conditions
NOI Build-Up for 1,734 SF
Gross rent
$45.2K $26.04/SF
− Vacancy
−$2.3K −$1.30/SF
EGI
$42.9K $24.74/SF
− OpEx
−$19.3K −$11.13/SF
NOI
$23.6K $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%
$471,860
Cap Rate 7%
$337,043
Cap Rate 9%
$262,144
Alternative Uses
Best Use
Apartment 5plus
$337.0K
$294.9K – $393.2K
NOI $23,593 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$642.5K
$562.2K – $749.6K
NOI $44,977 @ 7.0% cap · market cap 9.28%
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
45
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 - An elevator-served two-bedroom condo features a loft and access to a 55+ active adult community.
Where is this residential income property located?
The property is located at 3519 STARLIGHT STREET Unit 401 Frederick, MD.
What is the asking price?
The asking price for this property is $484,900.
What are key features of this property?
This property features: 1,734‑square‑foot condo with two bedrooms and two full bathrooms; Loft provides additional interior space; Elevator access in the building
