Penthouse Residential Income
For Sale
$178,900
5858 THUNDER HILL ROAD Unit C-1, Columbia, MD 21045
Updated one-bedroom condo with a flexible bonus room, private storage, laundry access, and parking for two vehicles.
Property Size734 SF
Days on Market21
Property Features for 5858 THUNDER HILL ROAD Unit C-1
General Information
Standard status
Active
Size
734 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$2,123
Building Details
Building Size
734 SF
Year Built
1973
Listing Agency:
Mr. Lister Realty
(410) 486-4504
Listed By:
Jeremy Michael McDonough · License #6436
(410) 486-4504
Source:
Thehulsmangroup
Added: Jul 24
Changed: Aug 11
Last Checked: Aug 12 at 2:47PM
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 Mr. Lister Realty
Investment Insights
Based on property information with market context.
This penthouse residential income property is a one-bedroom condominium in a secured building, with a flexible bonus room that can serve as office or den space. The interior includes a separate dining area, bright living room, updated kitchen appliances, gray cabinetry, newer countertops, a custom backsplash, laminate flooring, an updated full bathroom, and a walk-in closet. The unit also includes an additional storage unit and access to building laundry facilities. Windows were replaced in 2017, and the A/C compressor was replaced in 2019.
The property overlooks green space and ball fields within a quiet community in Columbia, Maryland. Two parking passes are included. Building-level services covered by the condo fee include interior maintenance and cleaning, snow removal, exterior maintenance, roof care, landscaping, trash, water, and master insurance. The residence was previously used as a rental property and is located in a building constructed in 1973.
The property overlooks green space and ball fields within a quiet community in Columbia, Maryland. Two parking passes are included. Building-level services covered by the condo fee include interior maintenance and cleaning, snow removal, exterior maintenance, roof care, landscaping, trash, water, and master insurance. The residence was previously used as a rental property and is located in a building constructed in 1973.
Key Highlights
- Penthouse one‑bedroom condominium in a secured building
- Flexible bonus room suitable for office or den use
- Windows replaced in 2017; A/C compressor replaced in 2019
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
$9,542
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
5.33%
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%
$190,840
$190.8K
Cap Rate 7%
$136,314
$136.3K
Cap Rate 9%
$106,022
$106.0K
Market Conditions
NOI Build-Up for 734 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
$18.5K $25.20/SF
− Vacancy
−$1.1K −$1.56/SF
EGI
$17.3K $23.64/SF
− OpEx
−$7.8K −$10.64/SF
NOI
$9.5K $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%
$190,840
Cap Rate 7%
$136,314
Cap Rate 9%
$106,022
Alternative Uses
Best Use
Apartment 5plus
$136.3K
$119.3K – $159.0K
NOI $9,542 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$233.4K
$204.2K – $272.3K
NOI $16,335 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
Explore this area
Business Placement
Demographics for 21045, MD
39,321
Population
15,826
Households
2.5
Avg Household Size
38
Median Age
57%
College-Educated
94%
High-School Grad
9.7 sq mi
ZIP Area
4,054
Density / Sq Mi
$117,323
Median Household Income
$62,522
Median Earnings
$1,768
Median Rent
$438,500
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Updated one-bedroom condo with a flexible bonus room, private storage, laundry access, and parking for two vehicles.
Where is this residential income property located?
The property is located at 5858 THUNDER HILL ROAD Unit C-1 Columbia, MD.
What is the asking price?
The asking price for this property is $178,900.
What are key features of this property?
This property features: Penthouse one‑bedroom condominium in a secured building; Flexible bonus room suitable for office or den use; Windows replaced in 2017; A/C compressor replaced in 2019
