Main-Level Residential Income
For Sale
$315,000
605 ADMIRAL DRIVE Unit 102, Annapolis, MD 21401
Single-level condo with hardwood floors, private patio, open living areas, and community recreational amenities.
Property Size964 SF
Days on Market58
Property Features for 605 ADMIRAL DRIVE Unit 102
General Information
Standard status
Active
Size
964 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$2,735
Building Details
Building Size
964 SF
Year Built
1992
Listing Agency:
Coldwell Banker Realty
Listed By:
Kara L. Leddy · License #662724
(410) 507-3417
Source:
Bradkappel
Added: Aug 9
Changed: Oct 3
Last Checked: Oct 4 at 1:47PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 964-square-foot condominium offers main-level living within the Admirals Reach community. The interior includes hardwood flooring, an open living and dining arrangement, and abundant natural light. Sliding glass doors connect the living room to a private patio, while the kitchen provides an extended breakfast bar and direct access to the dining area. The primary suite accommodates king-sized furnishings and includes a walk-in closet, dual vanities, a soaking tub, and a separate walk-in shower.
Community amenities include a clubhouse, swimming pool, gym, and tennis courts. The pet-friendly setting is positioned near shopping centers, restaurants, medical facilities, Downtown Annapolis, and major commuter routes. The residence was built in 1992.
Community amenities include a clubhouse, swimming pool, gym, and tennis courts. The pet-friendly setting is positioned near shopping centers, restaurants, medical facilities, Downtown Annapolis, and major commuter routes. The residence was built in 1992.
Key Highlights
- 964‑square‑foot main‑level condominium in Admirals Reach
- Private patio accessed through sliding glass doors
- Kitchen with extended breakfast bar adjoining the dining area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,010
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$260,200
$260.2K
Cap Rate 7%
$185,857
$185.9K
Cap Rate 9%
$144,556
$144.6K
Market Conditions
NOI Build-Up for 964 SF
Gross rent
$25.2K $26.16/SF
− Vacancy
−$1.6K −$1.62/SF
EGI
$23.7K $24.54/SF
− OpEx
−$10.6K −$11.04/SF
NOI
$13.0K $13.50/SF
Area
Anne Arundel County, MD
Vacancy
6.20%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$260,200
Cap Rate 7%
$185,857
Cap Rate 9%
$144,556
Alternative Uses
Best Use
Apartment 5plus
$185.9K
$162.6K – $216.8K
NOI $13,010 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$282.0K
$246.8K – $329.0K
NOI $19,740 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,166
Businesses Nearby
Explore this area
Business Placement
Demographics for 21401, MD
39,308
Population
19,293
Households
2
Avg Household Size
44
Median Age
61%
College-Educated
96%
High-School Grad
19.9 sq mi
ZIP Area
1,975
Density / Sq Mi
$119,296
Median Household Income
$67,845
Median Earnings
$2,106
Median Rent
$580,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Single-level condo with hardwood floors, private patio, open living areas, and community recreational amenities.
Where is this residential income property located?
The property is located at 605 ADMIRAL DRIVE Unit 102 Annapolis, MD.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 964‑square‑foot main‑level condominium in Admirals Reach; Private patio accessed through sliding glass doors; Kitchen with extended breakfast bar adjoining the dining area
