Renovated Residential Income
For Sale
$339,900
5245 W RUNNING BROOK ROAD Unit 302, Columbia, MD 21044
Two-bedroom condominium with an open kitchen, updated baths, modern finishes, and convenient access to Columbia shopping, trails, and roads.
Property Size1,207 SF
Days on Market58
Property Features for 5245 W RUNNING BROOK ROAD Unit 302
General Information
Standard status
Active
Size
1,207 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,339
Building Details
Building Size
1,207 SF
Year Built
1972
Year Renovated
2023
Listing Agency:
ExecuHome Realty
(443) 677-2889
Listed By:
Mattie R Cymek
(443) 677-2889
Source:
Thehulsmangroup
Added: Jun 26
Changed: Aug 21
Last Checked: Aug 21 at 10:27AM
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 ExecuHome Realty
Investment Insights
Based on property information with market context.
This condominium in the Running Brook community was built in 1972 and comprehensively renovated in 2023 by an architect. The residence features two bedrooms, two bathrooms, and an open arrangement connecting the kitchen, dining, and living areas. Improvements include quartz counters, stainless steel appliances, white cabinetry, luxury vinyl plank flooring, new bedroom carpeting, custom closet storage, updated lighting, and contemporary bathroom finishes. A full-size side-by-side washer and dryer, expanded storage, and refreshed plumbing and electrical systems add practical utility. The roof was replaced in 2024.
The property is in Columbia, within walking distance of The Mall in Columbia and minutes from Lake Elkhorn, Lake Kittamaqundi, and Wilde Lake. Columbia’s walking and biking trails, dining, shopping, entertainment, and Merriweather Post Pavilion are nearby. Routes 29 and 32 and I-95 provide regional access throughout the DMV.
The property is in Columbia, within walking distance of The Mall in Columbia and minutes from Lake Elkhorn, Lake Kittamaqundi, and Wilde Lake. Columbia’s walking and biking trails, dining, shopping, entertainment, and Merriweather Post Pavilion are nearby. Routes 29 and 32 and I-95 provide regional access throughout the DMV.
Key Highlights
- Architect‑renovated condominium completed in 2023
- Two bedrooms and two bathrooms with an open kitchen, dining, and living arrangement
- New roof installed in 2024
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
$15,692
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
4.62%
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%
$313,840
$313.8K
Cap Rate 7%
$224,171
$224.2K
Cap Rate 9%
$174,356
$174.4K
Market Conditions
NOI Build-Up for 1,207 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
$30.4K $25.20/SF
− Vacancy
−$1.9K −$1.56/SF
EGI
$28.5K $23.64/SF
− OpEx
−$12.8K −$10.64/SF
NOI
$15.7K $13.00/SF
Area
Columbia, MD
Vacancy
6.20%
Lease Rate
$25.20 /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%
$313,840
Cap Rate 7%
$224,171
Cap Rate 9%
$174,356
Alternative Uses
Best Use
Apartment 5plus
$224.2K
$196.2K – $261.5K
NOI $15,692 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$383.7K
$335.8K – $447.7K
NOI $26,861 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
Explore this area
Business Placement
Demographics for 21044, MD
44,284
Population
19,776
Households
2.2
Avg Household Size
39
Median Age
67%
College-Educated
96%
High-School Grad
11.9 sq mi
ZIP Area
3,721
Density / Sq Mi
$132,924
Median Household Income
$69,565
Median Earnings
$2,096
Median Rent
$541,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with an open kitchen, updated baths, modern finishes, and convenient access to Columbia shopping, trails, and roads.
Where is this residential income property located?
The property is located at 5245 W RUNNING BROOK ROAD Unit 302 Columbia, MD.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Architect‑renovated condominium completed in 2023; Two bedrooms and two bathrooms with an open kitchen, dining, and living arrangement; New roof installed in 2024
