Waterfront Residential Income
New
For Sale
$215,000
361 GATEWATER COURT Unit 202, Glen Burnie, MD 21060
The unit has two full bathrooms and overlooks the water.
Property Size1,027 SF
Days on Market7
Property Features for 361 GATEWATER COURT Unit 202
General Information
Standard status
Active
Size
1,027 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,280
Building Details
Building Size
1,027 SF
Year Built
1975
Listing Agency:
NetRealtyNow.com, LLC
Listed By:
Thomas S Hennerty · License #5092
(703) 581-8605
Source:
Thehulsmangroup
Added: Oct 14
Changed: Oct 20
Last Checked: Oct 19 at 4:19PM
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 NetRealtyNow.com, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Unit 202 at 361 Gatewater Court is a waterfront residential property in Glen Burnie, Maryland. The unit includes two full bathrooms, and water views are part of its setting. The building dates to 1975.
Key Highlights
- Waterfront setting with water views
- Two full bathrooms
- Built in 1975
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,860
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$277,200
$277.2K
Cap Rate 7%
$198,000
$198.0K
Cap Rate 9%
$154,000
$154.0K
Market Conditions
NOI Build-Up for 1,027 SF
Gross rent
$26.9K $26.16/SF
− Vacancy
−$1.7K −$1.62/SF
EGI
$25.2K $24.54/SF
− OpEx
−$11.3K −$11.04/SF
NOI
$13.9K $13.50/SF
Area
Anne Arundel County, MD
Vacancy
6.20%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$277,200
Cap Rate 7%
$198,000
Cap Rate 9%
$154,000
Alternative Uses
Best Use
Apartment 5plus
$198.0K
$173.3K – $231.0K
NOI $13,860 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$300.4K
$262.9K – $350.5K
NOI $21,030 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 21060, MD
38,269
Population
15,988
Households
2.4
Avg Household Size
37
Median Age
32%
College-Educated
91%
High-School Grad
13.0 sq mi
ZIP Area
2,944
Density / Sq Mi
$99,739
Median Household Income
$57,005
Median Earnings
$1,620
Median Rent
$352,800
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - The unit has two full bathrooms and overlooks the water.
Where is this residential income property located?
The property is located at 361 GATEWATER COURT Unit 202 Glen Burnie, MD.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Waterfront setting with water views; Two full bathrooms; Built in 1975
