2-Bedroom Residential Income
For Sale
$289,999
4986 DORSEY HALL DRIVE Unit C-3, Ellicott City, MD 21042
Open-concept residence with upgraded kitchen finishes, in-unit laundry, and access to community amenities.
Property Size1,160 SF
Days on Market13
Property Features for 4986 DORSEY HALL DRIVE Unit C-3
General Information
Standard status
Active
Size
1,160 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,079
Amenities
fireplace
ceiling fans
in-unit washer/dryer
pool
walking and biking trails
playground
Building Details
Building Size
1,160 SF
Year Built
1989
Listing Agency:
Cummings & Co. Realtors
Listed By:
Bridget Oppenheimer · License #636306
(443) 253-9086
Source:
Thehulsmangroup
Added: Aug 21
Changed: Aug 31
Last Checked: Sep 1 at 11:03PM
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 Cummings & Co. Realtors
Investment Insights
Based on property information with market context.
This 2-bedroom, 2-bathroom residential income property features an open layout connecting the living, dining, and kitchen areas. The kitchen includes upgraded countertops, stainless steel appliances, ample cabinetry, and a large pantry. A double-sided fireplace anchors the living area, while floor-to-ceiling windows bring in natural light. The primary suite includes a walk-in closet and an en-suite bathroom with a marble walk-in shower. The second bedroom also offers a walk-in closet with built-in organization. An in-unit washer and dryer add everyday convenience.
The property is located at 4986 Dorsey Hall Drive, Unit C-3, in Ellicott City, Maryland. Community features include walking and biking trails, shopping and dining within walking distance, a playground, and a Columbia community pool. Parking lot access and well-maintained common areas are also provided. Built in 1989, the unit offers established residential construction with a range of updated interior features.
The property is located at 4986 Dorsey Hall Drive, Unit C-3, in Ellicott City, Maryland. Community features include walking and biking trails, shopping and dining within walking distance, a playground, and a Columbia community pool. Parking lot access and well-maintained common areas are also provided. Built in 1989, the unit offers established residential construction with a range of updated interior features.
Key Highlights
- 2‑bedroom, 2‑bathroom unit at 4986 Dorsey Hall Drive, Unit C‑3
- Upgraded kitchen countertops with stainless steel dishwasher, stove, and refrigerator
- Double‑sided fireplace and floor‑to‑ceiling windows
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
$15,816
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
5.45%
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%
$316,320
$316.3K
Cap Rate 7%
$225,943
$225.9K
Cap Rate 9%
$175,733
$175.7K
Market Conditions
NOI Build-Up for 1,160 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
$30.2K $26.04/SF
− Vacancy
−$1.4K −$1.25/SF
EGI
$28.8K $24.79/SF
− OpEx
−$12.9K −$11.16/SF
NOI
$15.8K $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%
$316,320
Cap Rate 7%
$225,943
Cap Rate 9%
$175,733
Alternative Uses
Best Use
Apartment 5plus
$225.9K
$197.7K – $263.6K
NOI $15,816 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$430.2K
$376.4K – $501.9K
NOI $30,113 @ 7.0% cap · market cap 10.38%
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 - Open-concept residence with upgraded kitchen finishes, in-unit laundry, and access to community amenities.
Where is this residential income property located?
The property is located at 4986 DORSEY HALL DRIVE Unit C-3 Ellicott City, MD.
What is the asking price?
The asking price for this property is $289,999.
What are key features of this property?
This property features: 2‑bedroom, 2‑bathroom unit at 4986 Dorsey Hall Drive, Unit C‑3; Upgraded kitchen countertops with stainless steel dishwasher, stove, and refrigerator; Double‑sided fireplace and floor‑to‑ceiling windows
