Ground-Floor Residential Income
New
For Sale
$275,000
5669 HARPERS FARM ROAD Unit B, Columbia, MD 21044
Three bedrooms, an eat-in kitchen, and a covered patio provide a practical single-level layout.
Property Size1,593 SF
Days on Market2
Property Features for 5669 HARPERS FARM ROAD Unit B
General Information
Standard status
Active
Size
1,593 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,696
Amenities
covered patio
in-unit washer and dryer
outdoor storage closet
Building Details
Building Size
1,593 SF
Year Built
1977
Listing Agency:
Red Cedar Real Estate, LLC
Listed By:
Brian Pakulla · License #521063
(410) 340-8666
Source:
Thehulsmangroup
Added: Oct 15
Changed: Oct 16
Last Checked: Oct 16 at 2:11PM
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 Red Cedar Real Estate, LLC
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Investment Insights
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This ground-floor, three-bedroom, two-bathroom condo offers nearly 1,600 square feet, with laminate flooring and a freshly painted interior. The eat-in kitchen has a gas oven and range plus a stainless steel side-by-side refrigerator. A covered patio, outdoor storage closet, and full-size in-unit washer and dryer add useful everyday features. The windows and sliding doors have been replaced, and the property includes a Carrier gas HVAC system installed in 2011 and a gas water heater installed in 2018.
Community fees cover exterior maintenance, lawn care, snow removal, water, sewer, the master insurance policy, and professional management. The property has access to more than 95 miles of connected paths and over 3,600 acres of open space. Nearby destinations listed include shopping, restaurants, movie theaters, Toby's Dinner Theatre, Columbia Lakefront, Merriweather Post, and commuter routes serving Baltimore, Washington, Ft. Meade, NSA, BWI Airport, and rail connections.
Community fees cover exterior maintenance, lawn care, snow removal, water, sewer, the master insurance policy, and professional management. The property has access to more than 95 miles of connected paths and over 3,600 acres of open space. Nearby destinations listed include shopping, restaurants, movie theaters, Toby's Dinner Theatre, Columbia Lakefront, Merriweather Post, and commuter routes serving Baltimore, Washington, Ft. Meade, NSA, BWI Airport, and rail connections.
Key Highlights
- Three‑bedroom, two‑bathroom ground‑floor condo
- Nearly 1,600 square feet with laminate flooring throughout
- Covered patio, outdoor storage closet, and full‑size in‑unit washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,710
Cap Rate
7.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$414,200
$414.2K
Cap Rate 7%
$295,857
$295.9K
Cap Rate 9%
$230,111
$230.1K
Market Conditions
NOI Build-Up for 1,593 SF
Gross rent
$40.1K $25.20/SF
− Vacancy
−$2.5K −$1.56/SF
EGI
$37.7K $23.64/SF
− OpEx
−$16.9K −$10.64/SF
NOI
$20.7K $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 Rate 5%
$414,200
Cap Rate 7%
$295,857
Cap Rate 9%
$230,111
Alternative Uses
Best Use
Apartment 5plus
$295.9K
$258.9K – $345.2K
NOI $20,710 @ 7.0% cap · market cap 7.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$506.5K
$443.2K – $590.9K
NOI $35,452 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,160
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 - Three bedrooms, an eat-in kitchen, and a covered patio provide a practical single-level layout.
Where is this residential income property located?
The property is located at 5669 HARPERS FARM ROAD Unit B Columbia, MD.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Three‑bedroom, two‑bathroom ground‑floor condo; Nearly 1,600 square feet with laminate flooring throughout; Covered patio, outdoor storage closet, and full‑size in‑unit washer and dryer
