Two-Bedroom Residential Income
For Sale
$320,000
4924 COLUMBIA ROAD Unit 5, Columbia, MD 21044
Condominium ownership provides access to shopping, dining, daily services, and commuter routes toward Baltimore and Washington.
Property Size1,324 SF
Days on Market11
Property Features for 4924 COLUMBIA ROAD Unit 5
General Information
Standard status
Active
Size
1,324 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$3,298
Building Details
Building Size
1,324 SF
Year Built
1988
Listing Agency:
Compass
(443) 676-4097
Listed By:
Nicholas J Johnson · License #664463
(443) 676-4097
Source:
Thehulsmangroup
Added: Aug 12
Changed: Aug 21
Last Checked: Aug 22 at 12:18PM
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 residential income property is a condominium with two bedrooms and two full bathrooms. Built in 1988, the home is offered as-is and provides an opportunity for a buyer to complete desired finishing work. The condominium format places exterior maintenance responsibilities outside the owner’s day-to-day routine.
The property is positioned near shopping, restaurants, and everyday services, with commuter access toward Baltimore and Washington. Its Columbia setting is described as having a village-center layout that keeps common conveniences nearby.
The property is positioned near shopping, restaurants, and everyday services, with commuter access toward Baltimore and Washington. Its Columbia setting is described as having a village-center layout that keeps common conveniences nearby.
Key Highlights
- Two bedrooms and two full bathrooms
- Condominium property built in 1988
- Offered as‑is
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
$17,213
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
5.38%
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%
$344,260
$344.3K
Cap Rate 7%
$245,900
$245.9K
Cap Rate 9%
$191,256
$191.3K
Market Conditions
NOI Build-Up for 1,324 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
$33.4K $25.20/SF
− Vacancy
−$2.1K −$1.56/SF
EGI
$31.3K $23.64/SF
− OpEx
−$14.1K −$10.64/SF
NOI
$17.2K $13.00/SF
Area
Columbia, MD
Vacancy
6.20%
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%
$344,260
Cap Rate 7%
$245,900
Cap Rate 9%
$191,256
Alternative Uses
Best Use
Apartment 5plus
$245.9K
$215.2K – $286.9K
NOI $17,213 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$420.9K
$368.3K – $491.1K
NOI $29,465 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
707
Businesses Nearby
Explore this area
Business Placement
Demographics for 21044, MD
44,284
Population
19,776
Households
2.2
Avg Household Size
39
Median Age
67%
College-Educated
96%
High-School Grad
11.9 sq mi
ZIP Area
3,721
Density / Sq Mi
$132,924
Median Household Income
$69,565
Median Earnings
$2,096
Median Rent
$541,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium ownership provides access to shopping, dining, daily services, and commuter routes toward Baltimore and Washington.
Where is this residential income property located?
The property is located at 4924 COLUMBIA ROAD Unit 5 Columbia, MD.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two bedrooms and two full bathrooms; Condominium property built in 1988; Offered as‑is
