Ground-Floor Residential Income
For Sale
$289,000
4998 DORSEY HALL DRIVE Unit A2, Ellicott City, MD 21042
Two bedrooms and two full baths anchor this condominium with in-unit laundry and generous closet storage.
Property Size1,000 SF
Days on Market81
Property Features for 4998 DORSEY HALL DRIVE Unit A2
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,631
Amenities
walk-in closet
washer/dryer in unit
Building Details
Building Size
1,000 SF
Year Built
1989
Listing Agency:
Prostage Realty, LLC
Listed By:
Hanna G Wang · License #584710
(240) 398-8102
Source:
Thehulsmangroup
Added: Jul 31
Changed: Oct 13
Last Checked: Oct 16 at 5:57PM
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 Prostage Realty, LLC
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Investment Insights
Based on property information with market context.
This ground-level condominium offers a two-bedroom, two-full-bath layout with a spacious living room, separate dining area, and a full-size washer and dryer within the unit. Both bedrooms include private full baths and walk-in closets. Brand-new laminate flooring runs throughout, while a wall of windows brings natural light into the residence. The windows were replaced in 2019, and the hot water heater dates to 2018. The property was built in 1989.
Located at 4998 Dorsey Hall Drive, Unit A2, the condominium is near shopping, banking, salons, and restaurants. Columbia Mall, Centennial Park, and Route 29 are approximately five minutes away, with Downtown Ellicott City also nearby. Water is included in the condominium fee.
Located at 4998 Dorsey Hall Drive, Unit A2, the condominium is near shopping, banking, salons, and restaurants. Columbia Mall, Centennial Park, and Route 29 are approximately five minutes away, with Downtown Ellicott City also nearby. Water is included in the condominium fee.
Key Highlights
- Two‑bedroom, two‑full‑bath ground‑floor condominium
- Private full bath and walk‑in closet attached to each bedroom
- Brand‑new laminate flooring throughout the residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,635
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$272,700
$272.7K
Cap Rate 7%
$194,786
$194.8K
Cap Rate 9%
$151,500
$151.5K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$26.0K $26.04/SF
− Vacancy
−$1.2K −$1.25/SF
EGI
$24.8K $24.79/SF
− OpEx
−$11.2K −$11.16/SF
NOI
$13.6K $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 Rate 5%
$272,700
Cap Rate 7%
$194,786
Cap Rate 9%
$151,500
Alternative Uses
Best Use
Apartment 5plus
$194.8K
$170.4K – $227.3K
NOI $13,635 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$370.9K
$324.5K – $432.7K
NOI $25,960 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Yes
Highway access
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Two bedrooms and two full baths anchor this condominium with in-unit laundry and generous closet storage.
Where is this residential income property located?
The property is located at 4998 DORSEY HALL DRIVE Unit A2 Ellicott City, MD.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Two‑bedroom, two‑full‑bath ground‑floor condominium; Private full bath and walk‑in closet attached to each bedroom; Brand‑new laminate flooring throughout the residence
