Second-Floor One-Bedroom
New
For Sale
$185,000
Pending
400 RENFRO DRIVE Unit 213, Glen Burnie, MD 21060
Secure-entry condominium with elevator access, in-unit laundry, assigned parking, and updated mechanical systems.
Property Size574 SF
Days on Market7
Property Features for 400 RENFRO DRIVE Unit 213
General Information
Standard status
Pending
Size
574 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,770
Amenities
secure-entry building
assigned parking
washer and dryer
Building Details
Building Size
574 SF
Year Built
2005
Listing Agency:
Compass
Listed By:
Lauren Ashley Thomas · License #679218
(443) 355-7556
Source:
Thehulsmangroup
Added: Sep 9
Changed: Sep 13
Last Checked: Sep 14 at 11:00AM
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 Compass
Investment Insights
Based on property information with market context.
This second-floor condominium offers one bedroom, one full bathroom, and an open arrangement connecting the kitchen with the living area. The kitchen includes ceramic tile flooring, substantial cabinetry, and an extended island with seating. Hardwood flooring serves the main living space, while the bedroom has luxury vinyl plank flooring. A newer HVAC system, in-unit washer and dryer, full bathroom, and assigned parking add practical functionality. The building has secure entry and elevator service.
The property is near Route 10, Route 2, and I-97, providing access to shopping, dining, entertainment, and regional commuter routes. Built in 2005, the condominium combines a defined residential layout with features suited to lower-maintenance living.
The property is near Route 10, Route 2, and I-97, providing access to shopping, dining, entertainment, and regional commuter routes. Built in 2005, the condominium combines a defined residential layout with features suited to lower-maintenance living.
Key Highlights
- One‑bedroom, one‑bathroom condominium on the second floor
- Secure‑entry building with elevator access
- Open kitchen and living area with a long seating island
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
$7,747
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
4.19%
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%
$154,940
$154.9K
Cap Rate 7%
$110,671
$110.7K
Cap Rate 9%
$86,078
$86.1K
Market Conditions
NOI Build-Up for 574 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
$15.0K $26.16/SF
− Vacancy
−$931 −$1.62/SF
EGI
$14.1K $24.54/SF
− OpEx
−$6.3K −$11.04/SF
NOI
$7.7K $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 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%
$154,940
Cap Rate 7%
$110,671
Cap Rate 9%
$86,078
Alternative Uses
Best Use
Apartment 5plus
$110.7K
$96.8K – $129.1K
NOI $7,747 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$167.9K
$146.9K – $195.9K
NOI $11,754 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
371
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Secure-entry condominium with elevator access, in-unit laundry, assigned parking, and updated mechanical systems.
Where is this residential income property located?
The property is located at 400 RENFRO DRIVE Unit 213 Glen Burnie, MD.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: One‑bedroom, one‑bathroom condominium on the second floor; Secure‑entry building with elevator access; Open kitchen and living area with a long seating island
