Penthouse Residential Income
New
For Sale
$520,000
5801 CLIPPER LANE Unit 407, Clarksville, MD 21029
The two-bedroom condo has an open living area, private balcony, in-unit laundry, and a detached garage.
Property Size1,478 SF
Days on Market4
Property Features for 5801 CLIPPER LANE Unit 407
General Information
Standard status
Active
Size
1,478 SF
Total Parking Spaces
1
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,472
Amenities
private balcony
in-unit laundry
Building Details
Building Size
1,478 SF
Year Built
2005
Listing Agency:
Hyatt & Company Real Estate, LLC
Listed By:
Ruth Anne Strauss · License #5006575
(443) 286-7450
Source:
Thehulsmangroup
Added: Oct 21
Changed: Oct 23
Last Checked: Oct 23 at 6:00PM
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 Hyatt & Company Real Estate, LLC
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Investment Insights
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This penthouse condominium offers two bedrooms and two full bathrooms in an open layout connecting the kitchen, dining area, and living room. Hardwood flooring covers the main living spaces; the kitchen includes quartz counters, stainless steel appliances, and a tile backsplash. A private balcony, in-unit laundry, and detached one-car garage are also part of the property. Built in 2005, the residence is at 5801 Clipper Lane, Unit 407, in Clarksville.
Key Highlights
- Two bedrooms and two full bathrooms
- Penthouse condo with an open kitchen, dining, and living area
- Quartz countertops and stainless steel kitchen appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,215
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$384,300
$384.3K
Cap Rate 7%
$274,500
$274.5K
Cap Rate 9%
$213,500
$213.5K
Market Conditions
NOI Build-Up for 1,478 SF
Gross rent
$37.2K $25.20/SF
− Vacancy
−$2.3K −$1.56/SF
EGI
$34.9K $23.64/SF
− OpEx
−$15.7K −$10.64/SF
NOI
$19.2K $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%
$384,300
Cap Rate 7%
$274,500
Cap Rate 9%
$213,500
Alternative Uses
Best Use
Apartment 5plus
$274.5K
$240.2K – $320.3K
NOI $19,215 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$469.9K
$411.2K – $548.2K
NOI $32,892 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
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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 - The two-bedroom condo has an open living area, private balcony, in-unit laundry, and a detached garage.
Where is this residential income property located?
The property is located at 5801 CLIPPER LANE Unit 407 Clarksville, MD.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Two bedrooms and two full bathrooms; Penthouse condo with an open kitchen, dining, and living area; Quartz countertops and stainless steel kitchen appliances
