Elevator-Access Residential Income
For Sale
$550,000
5801 CLIPPER LANE #408, Clarksville, MD 21029
Penthouse condominium with private balcony, attached garage, multiple storage areas, and access to River Hill amenities.
Property Size1,900 SF
Price / SF$289.47
Days on Market29
Property Features for 5801 CLIPPER LANE #408
General Information
Standard status
Active
Size
1,900 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
balcony
gas fireplace
stainless steel appliances
breakfast bar
pantry
ceramic tile backsplash
center island
white cabinetry
laundry closet
dedicated storage unit
climate controlled storage unit
Fireplace
Central A/C
Forced Air
Built-In Microwave
Dishwasher
Dryer - Front Loading
Exhaust Fan
Oven/Range - Gas
Refrigerator
Stainless Steel Appliances
Washer - Front Loading
Disposal
Deck
Building Details
Year Built
2005
Listed By:
Bob Lucido · License #4037
(410) 979-6024
Source:
Kw
Added: Aug 27
Changed: Sep 23
Last Checked: Sep 22 at 9:06PM
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 Bob Lucido
Investment Insights
Based on property information with market context.
This elevator-accessible penthouse condominium at 5801 Clipper Lane #408 offers approximately 1,900 finished square feet with 3 bedrooms and 2.5 bathrooms. The interior includes an open great room with a gas fireplace, formal dining area, eat-in kitchen, breakfast bar, center island, pantry, stainless steel appliances, and a laundry closet. Fresh paint, bamboo engineered hardwood flooring, recessed lighting, crown molding, and chair rail detailing add to the interior finish. The owner’s suite includes a walk-in closet and en-suite bath, while one secondary bedroom has an attached full bathroom. A third bedroom can also serve as a home office.
Outdoor and storage features include a private balcony, a dedicated lobby storage unit, an additional climate-controlled walk-in storage unit, and attached one-car garage G9. Built in 2005, the property is in the Village of River Hill near the River Hill Village Center, Columbia Gym, parks, shopping, dining, Route 32, and Interstate 95.
Outdoor and storage features include a private balcony, a dedicated lobby storage unit, an additional climate-controlled walk-in storage unit, and attached one-car garage G9. Built in 2005, the property is in the Village of River Hill near the River Hill Village Center, Columbia Gym, parks, shopping, dining, Route 32, and Interstate 95.
Key Highlights
- Approximately 1,900 finished square feet with 3 bedrooms and 2.5 bathrooms
- Elevator‑accessible penthouse condominium with private balcony
- Open great room with gas fireplace and formal dining area
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
$24,701
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
4.49%
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%
$494,020
$494.0K
Cap Rate 7%
$352,871
$352.9K
Cap Rate 9%
$274,456
$274.5K
Market Conditions
NOI Build-Up for 1,900 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
$47.9K $25.20/SF
− Vacancy
−$3.0K −$1.56/SF
EGI
$44.9K $23.64/SF
− OpEx
−$20.2K −$10.64/SF
NOI
$24.7K $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%
$494,020
Cap Rate 7%
$352,871
Cap Rate 9%
$274,456
Alternative Uses
Best Use
Apartment 5plus
$352.9K
$308.8K – $411.7K
NOI $24,701 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$604.1K
$528.6K – $704.7K
NOI $42,284 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
Explore this area
Business Placement
Demographics for 21029, MD
12,919
Population
4,155
Households
3.1
Avg Household Size
43
Median Age
82%
College-Educated
99%
High-School Grad
16.9 sq mi
ZIP Area
764
Density / Sq Mi
$250,001
Median Household Income
$115,700
Median Earnings
$3,501
Median Rent
$904,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Penthouse condominium with private balcony, attached garage, multiple storage areas, and access to River Hill amenities.
Where is this residential income property located?
The property is located at 5801 CLIPPER LANE #408 Clarksville, MD.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Approximately 1,900 finished square feet with 3 bedrooms and 2.5 bathrooms; Elevator‑accessible penthouse condominium with private balcony; Open great room with gas fireplace and formal dining area
