Updated Residential Income
For Sale
$499,000
5920 GREAT STAR DRIVE Unit 301, Clarksville, MD 21029
Third-floor condominium with private balcony, attached garage, and access to community amenities.
Property Size1,500 SF
Days on Market71
Property Features for 5920 GREAT STAR DRIVE Unit 301
General Information
Standard status
Active
Size
1,500 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,278
Amenities
fitness center
walking paths
community pool
secure lobby
balcony
community playground
stainless steel appliances
granite countertops
breakfast bar
42-inch cabinetry
pantry
luxury flooring
crown molding
bay window
walk-in closet
double vanity
walk-in shower
Building Details
Building Size
1,500 SF
Year Built
2003
Listing Agency:
Northrop Realty
(443) 939-1380
Listed By:
Chen Chen · License #642881
(443) 939-1380
Source:
Thehulsmangroup
Added: Jun 4
Changed: Aug 12
Last Checked: Aug 12 at 2:02PM
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 Northrop Realty
Investment Insights
Based on property information with market context.
This updated third-floor condominium offers a secure-lobby entry, elevator access, and a floor plan suited to comfortable living and entertaining. The kitchen opens to the main living areas and includes stainless steel appliances, granite countertops, a breakfast bar, 42-inch cabinetry, and a pantry. Luxury flooring, crown molding, and natural light carry through the principal living spaces. A private balcony overlooks mature trees, while the primary suite adds a sitting area, bay window, dual closets, a walk-in closet, double vanity, and walk-in shower. The secondary bedroom also includes a walk-in closet and is served by an adjacent full bath.
The residence includes a private one-car garage, community playground, and maintained grounds. Its Clarksville setting provides access to Columbia Mall, Clarksville Commons, Merriweather Post Pavilion, Columbia Association amenities, and major routes including MD-32, US-29, I-70, and I-95. Built in 2003.
The residence includes a private one-car garage, community playground, and maintained grounds. Its Clarksville setting provides access to Columbia Mall, Clarksville Commons, Merriweather Post Pavilion, Columbia Association amenities, and major routes including MD-32, US-29, I-70, and I-95. Built in 2003.
Key Highlights
- Updated third‑floor condominium with secure lobby and elevator access
- Kitchen with stainless steel appliances, granite counters, breakfast bar, 42‑inch cabinetry, and pantry
- Primary suite includes sitting area, bay window, dual closets, and en‑suite bath
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
$19,501
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
3.91%
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%
$390,020
$390.0K
Cap Rate 7%
$278,586
$278.6K
Cap Rate 9%
$216,678
$216.7K
Market Conditions
NOI Build-Up for 1,500 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
$37.8K $25.20/SF
− Vacancy
−$2.3K −$1.56/SF
EGI
$35.5K $23.64/SF
− OpEx
−$16.0K −$10.64/SF
NOI
$19.5K $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%
$390,020
Cap Rate 7%
$278,586
Cap Rate 9%
$216,678
Alternative Uses
Best Use
Apartment 5plus
$278.6K
$243.8K – $325.0K
NOI $19,501 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$476.9K
$417.3K – $556.4K
NOI $33,382 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Third-floor condominium with private balcony, attached garage, and access to community amenities.
Where is this residential income property located?
The property is located at 5920 GREAT STAR DRIVE Unit 301 Clarksville, MD.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Updated third‑floor condominium with secure lobby and elevator access; Kitchen with stainless steel appliances, granite counters, breakfast bar, 42‑inch cabinetry, and pantry; Primary suite includes sitting area, bay window, dual closets, and en‑suite bath
