Two-Bedroom Residential Income
New
For Sale
$378,900
4001 OLD COURT ROAD Unit 307, Baltimore, MD 21208
Condominium residence with updated kitchen appliances, private outdoor space, garage parking, and extensive building amenities.
Property Size1,807 SF
Days on Market6
Property Features for 4001 OLD COURT ROAD Unit 307
General Information
Standard status
Active
Size
1,807 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,272
Amenities
24-hour security
fitness center
party room
library
Building Details
Building Size
1,807 SF
Year Built
1988
Listing Agency:
Realty Advantage of Maryland LLC
(240) 505-6861
Listed By:
Eva G Vasco · License #595671
(240) 505-6861
Source:
Thehulsmangroup
Added: Aug 6
Changed: Aug 10
Last Checked: Aug 11 at 1:05PM
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 Realty Advantage of Maryland LLC
Investment Insights
Based on property information with market context.
This residential income property is a two-bedroom, two-bathroom condominium with an open living arrangement and substantial natural light. The kitchen includes double ovens, a dishwasher, electric cooktop, extensive cabinetry, and ample counter space. A private balcony extends from the living and dining area, while the primary suite includes a dressing area, vanity, two walk-in closets, and an en-suite bathroom with dual vanities, a jetted soaking tub, and a separate shower.
The unit is positioned near the elevator and includes a separate deeded garage parking space along with a private storage unit on the same floor. Building amenities include 24-hour security, a fitness center, party room, library, and maintained common areas. The building was constructed in 1988.
The unit is positioned near the elevator and includes a separate deeded garage parking space along with a private storage unit on the same floor. Building amenities include 24-hour security, a fitness center, party room, library, and maintained common areas. The building was constructed in 1988.
Key Highlights
- Two‑bedroom, two‑bathroom condominium with open living and dining areas
- Kitchen includes new double ovens, new dishwasher, electric cooktop, cabinetry, and generous counters
- Primary suite offers two large walk‑in closets, dual vanities, jetted tub, and separate shower
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
$23,542
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
6.21%
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%
$470,840
$470.8K
Cap Rate 7%
$336,314
$336.3K
Cap Rate 9%
$261,578
$261.6K
Market Conditions
NOI Build-Up for 1,807 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
$45.5K $25.20/SF
− Vacancy
−$2.7K −$1.51/SF
EGI
$42.8K $23.69/SF
− OpEx
−$19.3K −$10.66/SF
NOI
$23.5K $13.03/SF
Area
Baltimore, MD
Vacancy
6.00%
Lease Rate
$25.20 /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%
$470,840
Cap Rate 7%
$336,314
Cap Rate 9%
$261,578
Alternative Uses
Best Use
Apartment 5plus
$336.3K
$294.3K – $392.4K
NOI $23,542 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$432.9K
$378.8K – $505.1K
NOI $30,303 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,602
Businesses Nearby
Explore this area
Business Placement
Demographics for 21208, MD
35,007
Population
16,397
Households
2.1
Avg Household Size
46
Median Age
49%
College-Educated
94%
High-School Grad
12.6 sq mi
ZIP Area
2,778
Density / Sq Mi
$90,822
Median Household Income
$55,620
Median Earnings
$1,672
Median Rent
$313,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with updated kitchen appliances, private outdoor space, garage parking, and extensive building amenities.
Where is this residential income property located?
The property is located at 4001 OLD COURT ROAD Unit 307 Baltimore, MD.
What is the asking price?
The asking price for this property is $378,900.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom condominium with open living and dining areas; Kitchen includes new double ovens, new dishwasher, electric cooktop, cabinetry, and generous counters; Primary suite offers two large walk‑in closets, dual vanities, jetted tub, and separate shower
