Ground-Level Residential Income
For Sale
$270,000
4986 DORSEY HALL DRIVE Unit C-2, Ellicott City, MD 21042
Private patio overlooks a wooded area, while a three-sided fireplace connects the living, dining, and kitchen areas.
Property Size980 SF
Days on Market88
Property Features for 4986 DORSEY HALL DRIVE Unit C-2
General Information
Standard status
Active
Size
980 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,946
Amenities
private patio
three-sided fireplace
full-sized washer and dryer
scenic walking paths
boating
tennis courts
playgrounds
picnic pavilions
basketball courts
nature preserve
Building Details
Building Size
980 SF
Year Built
1989
Listing Agency:
RE/MAX Solutions
(410) 913-7370
Listed By:
Salvatore A Scuto · License #634325
(410) 913-7370
Source:
Thehulsmangroup
Added: Jun 1
Changed: Aug 20
Last Checked: Aug 26 at 1:16PM
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 RE/MAX Solutions
Investment Insights
Based on property information with market context.
This ground-level residential income property was built in 1989 and offers a practical layout with direct outdoor access. Sliding doors open to a private patio facing a wooded area, and a three-sided fireplace serves the living room, dining area, and kitchen. The home also includes a full-sized washer and dryer and a newly installed HVAC system from May 2026.
The property is located one mile from Centennial Lake, where amenities include walking paths, boating, tennis courts, playgrounds, picnic pavilions, basketball courts, and a nature preserve. The condo fee covers exterior maintenance, lawn care, and snow removal. The property is being sold as-is, with the seller making no repairs.
The property is located one mile from Centennial Lake, where amenities include walking paths, boating, tennis courts, playgrounds, picnic pavilions, basketball courts, and a nature preserve. The condo fee covers exterior maintenance, lawn care, and snow removal. The property is being sold as-is, with the seller making no repairs.
Key Highlights
- Ground‑level layout with a functional residential configuration
- Private patio overlooking a wooded area
- Three‑sided fireplace connects the living room, dining area, and kitchen
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
$13,362
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
4.95%
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%
$267,240
$267.2K
Cap Rate 7%
$190,886
$190.9K
Cap Rate 9%
$148,467
$148.5K
Market Conditions
NOI Build-Up for 980 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
$25.5K $26.04/SF
− Vacancy
−$1.2K −$1.25/SF
EGI
$24.3K $24.79/SF
− OpEx
−$10.9K −$11.16/SF
NOI
$13.4K $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%
$267,240
Cap Rate 7%
$190,886
Cap Rate 9%
$148,467
Alternative Uses
Best Use
Apartment 5plus
$190.9K
$167.0K – $222.7K
NOI $13,362 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$363.4K
$318.0K – $424.0K
NOI $25,440 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
863
Businesses Nearby
Explore this area
Business Placement
Demographics for 21042, MD
43,147
Population
15,269
Households
2.8
Avg Household Size
43
Median Age
75%
College-Educated
98%
High-School Grad
37.0 sq mi
ZIP Area
1,166
Density / Sq Mi
$190,504
Median Household Income
$94,089
Median Earnings
$2,253
Median Rent
$674,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Private patio overlooks a wooded area, while a three-sided fireplace connects the living, dining, and kitchen areas.
Where is this residential income property located?
The property is located at 4986 DORSEY HALL DRIVE Unit C-2 Ellicott City, MD.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Ground‑level layout with a functional residential configuration; Private patio overlooking a wooded area; Three‑sided fireplace connects the living room, dining area, and kitchen
