First-Floor Residential Income
For Sale
$164,900
Pending
6005 MAJORS LANE Unit 1- O25, Columbia, MD 21045
Two-bedroom condominium offered as-is with renovation potential and access to shopping, dining, and public transportation.
Property Size908 SF
Days on Market31
Property Features for 6005 MAJORS LANE Unit 1- O25
General Information
Standard status
Pending
Size
908 SF
Property subtype
Unit/Flat/Apartment
Property Condition
Severity
Minor
Evidence
Sold strictly as-is.
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,007
Building Details
Building Size
908 SF
Year Built
1982
Listing Agency:
Realty Advantage of Maryland LLC
(240) 505-6861
Listed By:
Eva G Vasco · License #595671
(240) 505-6861
Source:
Thehulsmangroup
Added: Jul 22
Changed: Aug 20
Last Checked: Aug 20 at 12:51PM
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 Realty Advantage of Maryland LLC
Investment Insights
Based on property information with market context.
This first-floor condominium includes two bedrooms and one bathroom within a residential income property classification. Built in 1982, the unit is being offered strictly as-is and presents an opportunity for renovation and interior customization. Its layout and ground-level placement provide a practical starting point for a buyer seeking a residential property project.
The property information notes access to shopping, restaurants, and public transportation, along with a community setting. The unit is identified as 6005 Majors Lane, Unit 1-O25, in Columbia, Maryland.
The property information notes access to shopping, restaurants, and public transportation, along with a community setting. The unit is identified as 6005 Majors Lane, Unit 1-O25, in Columbia, Maryland.
Key Highlights
- Two‑bedroom, one‑bathroom condominium
- First‑floor unit with a spacious layout
- Sold strictly as‑is
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
$11,805
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
7.16%
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%
$236,100
$236.1K
Cap Rate 7%
$168,643
$168.6K
Cap Rate 9%
$131,167
$131.2K
Market Conditions
NOI Build-Up for 908 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
$22.9K $25.20/SF
− Vacancy
−$1.4K −$1.56/SF
EGI
$21.5K $23.64/SF
− OpEx
−$9.7K −$10.64/SF
NOI
$11.8K $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%
$236,100
Cap Rate 7%
$168,643
Cap Rate 9%
$131,167
Alternative Uses
Best Use
Apartment 5plus
$168.6K
$147.6K – $196.8K
NOI $11,805 @ 7.0% cap · market cap 7.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$288.7K
$252.6K – $336.8K
NOI $20,207 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
379
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium offered as-is with renovation potential and access to shopping, dining, and public transportation.
Where is this residential income property located?
The property is located at 6005 MAJORS LANE Unit 1- O25 Columbia, MD.
What is the asking price?
The asking price for this property is $164,900.
What are key features of this property?
This property features: Two‑bedroom, one‑bathroom condominium; First‑floor unit with a spacious layout; Sold strictly as‑is
