Two-Bedroom Residential Income
For Sale
$280,000
50 SANDSTONE COURT, Annapolis, MD 21403
Condominium residence with open living areas, two full bathrooms, a private deck, and access to landscaped community surroundings.
Property Size1,010 SF
Days on Market22
Property Features for 50 SANDSTONE COURT
General Information
Standard status
Active
Size
1,010 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,136
Building Details
Building Size
1,010 SF
Year Built
1994
Listing Agency:
Coldwell Banker Realty
(240) 342-0821
Listed By:
Karen Richardson · License #660728
(240) 342-0821
Source:
Bradkappel
Added: Aug 1
Changed: Aug 20
Last Checked: Aug 21 at 10:59AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1994, this two-bedroom, two-bath condominium offers an open living and dining arrangement with natural light throughout. Sliding glass doors connect the main living area to a private deck facing landscaped green space. The kitchen provides ample counter space, while the primary bedroom includes an en-suite bathroom with a tub/shower combination. A second bedroom with wall-to-wall carpeting and a spacious closet can accommodate guests, office use, or additional living space. A second full bathroom is positioned nearby.
The property is located in the Annapolis Overlook community at 50-G Sandstone Court in Annapolis, Maryland. Historic Downtown Annapolis, waterfront dining, marinas, entertainment, the U.S. Naval Academy, shopping centers, parks, and major commuter routes are described as being within close reach.
The property is located in the Annapolis Overlook community at 50-G Sandstone Court in Annapolis, Maryland. Historic Downtown Annapolis, waterfront dining, marinas, entertainment, the U.S. Naval Academy, shopping centers, parks, and major commuter routes are described as being within close reach.
Key Highlights
- Two‑bedroom, two‑bath condominium built in 1994
- Private deck overlooking landscaped green space
- Open living and dining areas with sliding glass doors
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
$13,631
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
4.87%
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%
$272,620
$272.6K
Cap Rate 7%
$194,729
$194.7K
Cap Rate 9%
$151,456
$151.5K
Market Conditions
NOI Build-Up for 1,010 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
$26.4K $26.16/SF
− Vacancy
−$1.6K −$1.62/SF
EGI
$24.8K $24.54/SF
− OpEx
−$11.2K −$11.04/SF
NOI
$13.6K $13.50/SF
Area
Anne Arundel County, MD
Vacancy
6.20%
Lease Rate
$26.16 /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%
$272,620
Cap Rate 7%
$194,729
Cap Rate 9%
$151,456
Alternative Uses
Best Use
Apartment 5plus
$194.7K
$170.4K – $227.2K
NOI $13,631 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$295.5K
$258.5K – $344.7K
NOI $20,682 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
Explore this area
Business Placement
Demographics for 21403, MD
31,521
Population
15,479
Households
2
Avg Household Size
42
Median Age
58%
College-Educated
91%
High-School Grad
9.3 sq mi
ZIP Area
3,389
Density / Sq Mi
$115,068
Median Household Income
$64,638
Median Earnings
$1,872
Median Rent
$566,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with open living areas, two full bathrooms, a private deck, and access to landscaped community surroundings.
Where is this residential income property located?
The property is located at 50 SANDSTONE COURT Annapolis, MD.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium built in 1994; Private deck overlooking landscaped green space; Open living and dining areas with sliding glass doors
