Residential Income Property with
New
For Sale
$233,000
5490 CEDAR LANE Unit C3, Columbia, MD 21044
Top-floor residence combines wooded outlooks with an updated kitchen and in-unit laundry.
Property Size934 SF
Days on Market4
Property Features for 5490 CEDAR LANE Unit C3
General Information
Standard status
Active
Size
934 SF
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,109
Amenities
fireplace
in-unit washer and dryer
extra storage room
granite countertops
stainless steel appliances
gas cooking
recessed lighting
ceiling fan
Building Details
Building Size
934 SF
Year Built
1992
Listing Agency:
RE/MAX Realty Group
Listed By:
Jeffrey M Berman · License #584429
(410) 715-3390
Source:
Thehulsmangroup
Added: Oct 9
Changed: Oct 11
Last Checked: Oct 11 at 2:32PM
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 RE/MAX Realty Group
Investment Insights
Based on property information with market context.
This top-floor, two-bedroom residence has 1.5 bathrooms and wooded views. The renovated kitchen includes granite countertops, stainless steel appliances, five-burner gas cooking, and recessed lighting. A fireplace, dining area, in-unit washer and dryer, and separate storage room add to the unit’s features. The building was constructed in 1992.
Village Center is across the street, and Starbucks is nearby. Columbia Mall, with shopping, dining, and grocery options, is less than two minutes away. Condo fees include water, sewer, and exterior maintenance.
Village Center is across the street, and Starbucks is nearby. Columbia Mall, with shopping, dining, and grocery options, is less than two minutes away. Condo fees include water, sewer, and exterior maintenance.
Key Highlights
- Two bedrooms and 1.5 bathrooms on the top floor
- Renovated kitchen with granite countertops, stainless steel appliances, and five‑burner gas cooking
- In‑unit washer and dryer, fireplace, and separate storage room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,143
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$242,860
$242.9K
Cap Rate 7%
$173,471
$173.5K
Cap Rate 9%
$134,922
$134.9K
Market Conditions
NOI Build-Up for 934 SF
Gross rent
$23.5K $25.20/SF
− Vacancy
−$1.5K −$1.56/SF
EGI
$22.1K $23.64/SF
− OpEx
−$9.9K −$10.64/SF
NOI
$12.1K $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 Rate 5%
$242,860
Cap Rate 7%
$173,471
Cap Rate 9%
$134,922
Alternative Uses
Best Use
Apartment 5plus
$173.5K
$151.8K – $202.4K
NOI $12,143 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$296.9K
$259.8K – $346.4K
NOI $20,786 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,344
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Top-floor residence combines wooded outlooks with an updated kitchen and in-unit laundry.
Where is this residential income property located?
The property is located at 5490 CEDAR LANE Unit C3 Columbia, MD.
What is the asking price?
The asking price for this property is $233,000.
What are key features of this property?
This property features: Two bedrooms and 1.5 bathrooms on the top floor; Renovated kitchen with granite countertops, stainless steel appliances, and five‑burner gas cooking; In‑unit washer and dryer, fireplace, and separate storage room
