Corner Residential Income
For Sale
$435,000
4315 ERICSON Unit 306, Ellicott City, MD 21043
Two-bedroom residence includes a private garage, balcony, in-unit laundry, and an owner’s suite with private bath.
Property Size1,637 SF
Price / SF$271.88
Days on Market8
Property Features for 4315 ERICSON Unit 306
General Information
Standard status
Active
Size
1,637 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,942
Building Details
Building Size
1,637 SF
Year Built
2012
Abandoned
No
Listing Agency:
NextHome Envision
Listed By:
Catelin Schwarz · License #587595
(301) 606-2649
Source:
Thehulsmangroup
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 22 at 9:31PM
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 NextHome Envision
Investment Insights
Based on property information with market context.
This corner residential income property was built in 2012 and offers more than 1,600 square feet of living area. The layout includes two bedrooms, two full bathrooms, a private one-car garage, and a balcony with a solar shade. Interior features include an oversized eat-in kitchen, a separate dining room, and a living room extending more than 26 feet. Fresh paint, updated lighting, no carpeting, and abundant windows further define the interior. The owner’s suite includes a walk-in closet and private bathroom, while in-unit laundry adds everyday convenience.
The property is located within the 55+ Gatherings at Jefferson Place community in Ellicott City. Its configuration combines substantial indoor living space with private garage parking and an outdoor balcony.
The property is located within the 55+ Gatherings at Jefferson Place community in Ellicott City. Its configuration combines substantial indoor living space with private garage parking and an outdoor balcony.
Key Highlights
- More than 1,600 square feet of living space
- Two bedrooms and two full bathrooms
- Private one‑car garage and balcony with solar shade
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
$21,815
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
5.01%
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%
$436,300
$436.3K
Cap Rate 7%
$311,643
$311.6K
Cap Rate 9%
$242,389
$242.4K
Market Conditions
NOI Build-Up for 1,600 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
$41.7K $26.04/SF
− Vacancy
−$2.0K −$1.25/SF
EGI
$39.7K $24.79/SF
− OpEx
−$17.8K −$11.16/SF
NOI
$21.8K $13.63/SF
Area
Howard County, MD
Vacancy
4.80%
Lease Rate
$26.04 /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%
$436,300
Cap Rate 7%
$311,643
Cap Rate 9%
$242,389
Alternative Uses
Best Use
Apartment 5plus
$311.6K
$272.7K – $363.6K
NOI $21,815 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$593.4K
$519.2K – $692.3K
NOI $41,535 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
Explore this area
Business Placement
Demographics for 21043, MD
48,775
Population
17,978
Households
2.7
Avg Household Size
39
Median Age
64%
College-Educated
95%
High-School Grad
17.1 sq mi
ZIP Area
2,852
Density / Sq Mi
$141,846
Median Household Income
$77,574
Median Earnings
$1,964
Median Rent
$607,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom residence includes a private garage, balcony, in-unit laundry, and an owner’s suite with private bath.
Where is this residential income property located?
The property is located at 4315 ERICSON Unit 306 Ellicott City, MD.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: More than 1,600 square feet of living space; Two bedrooms and two full bathrooms; Private one‑car garage and balcony with solar shade
