Residential Income Property with
502 MATHIAS HAMMOND WAY Unit 201, Annapolis, MD 21401
For Sale
New
$299,900
Pending
A private elevator, two bedrooms, and community recreation amenities add practical features to this condominium.
Property Size882 SF
Days on Market7
Property Features for 502 MATHIAS HAMMOND WAY Unit 201
General Information
Standard status
Size
Elevators
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
private elevator
recreation facility
outdoor swimming pool
tennis courts
jogging and walking paths
Building Details
Building Size
Year Built
Listing Agency:
Redfin Corp
Listed By:
Kimberly Dawn Whaley · License #0651795
(410) 570-2243
Source:
Bradkappel
Added: Nov 1
Changed: Nov 7
Last Checked: Nov 6 at 6:14PM
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 Redfin Corp
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1997 condominium has two bedrooms, one full bathroom, and one half bathroom, along with an attached garage and a private elevator. Hardwood floors are installed throughout. The HVAC system was replaced in February 2026; four windows and a sliding door were replaced in 2025, and the appliances and water heater were updated in 2022.
Community amenities include a recreation facility, outdoor swimming pool, tennis courts, and walking and jogging paths.
Community amenities include a recreation facility, outdoor swimming pool, tennis courts, and walking and jogging paths.
Key Highlights
- Two‑bedroom condominium with one full bath and one half bath
- Attached garage and private elevator
- HVAC system replaced in February 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,903
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$238,060
$238.1K
Cap Rate 7%
$170,043
$170.0K
Cap Rate 9%
$132,256
$132.3K
Market Conditions
NOI Build-Up for 882 SF
Gross rent
$23.1K $26.16/SF
− Vacancy
−$1.4K −$1.62/SF
EGI
$21.6K $24.54/SF
− OpEx
−$9.7K −$11.04/SF
NOI
$11.9K $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 Rate 5%
$238,060
Cap Rate 7%
$170,043
Cap Rate 9%
$132,256
Alternative Uses
Best Use
Apartment 5plus
$170.0K
$148.8K – $198.4K
NOI $11,903 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$258.0K
$225.8K – $301.0K
NOI $18,061 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Explore this area
Business Placement
Demographics for 21401, MD
39,308
Population
19,293
Households
2
Avg Household Size
44
Median Age
61%
College-Educated
96%
High-School Grad
19.9 sq mi
ZIP Area
1,975
Density / Sq Mi
$119,296
Median Household Income
$67,845
Median Earnings
$2,106
Median Rent
$580,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Residential income properties in Anne Arundel County, MD
Properties on Market for Residential income properties in Anne Arundel County
Frequently Asked Questions
What type of property is this?
Residential income property - A private elevator, two bedrooms, and community recreation amenities add practical features to this condominium.
Where is this residential income property located?
The property is located at 502 MATHIAS HAMMOND WAY Unit 201 Annapolis, MD.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑bedroom condominium with one full bath and one half bath; Attached garage and private elevator; HVAC system replaced in February 2026
