Patio-Level Residential
For Sale
$308,000
Pending
645 OAKLAND HILLS DRIVE Unit 1B, Arnold, MD 21012
Two bedrooms, two full baths, reserved parking, and a wooded patio create a practical, well-appointed home in Arnold.
Property Size1,003 SF
Days on Market64
Property Features for 645 OAKLAND HILLS DRIVE Unit 1B
General Information
Standard status
Pending
Size
1,003 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,883
Amenities
playground
pavilion
tennis courts
basketball courts
intercom entry system
Building Details
Building Size
1,003 SF
Year Built
1994
Listing Agency:
Northrop Realty
Listed By:
Alexis Ahenkorah · License #5017747
(571) 723-9036
Source:
Chesapeakerealestateassociates
Added: Aug 27
Changed: Oct 27
Last Checked: Oct 27 at 4:06AM
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
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Investment Insights
Based on property information with market context.
This 1,003-square-foot, two-bedroom condo was built in 1994 and has two full baths. The patio-level layout includes a living room with a fireplace and sliding glass door, a separate dining area, and a kitchen with Shaker cabinets, quartz counters, and stainless steel appliances. The primary bedroom has a walk-in closet and en-suite bath; a second bedroom, hall bath, and in-unit laundry complete the interior. A private patio faces a wooded setting, and the secure building has intercom entry and reserved parking.
The home is in the Fairways at Bay Hills community in Arnold. Shared amenities include a playground, pavilion, tennis and basketball courts, and access to nearby trails. Optional memberships are available at Bay Hills Golf Club and Swim Club. Broadneck Park, the Baltimore & Annapolis Trail, Sandy Point State Park, marinas, and waterfront dining are among the nearby destinations; downtown Annapolis is a short drive away.
The home is in the Fairways at Bay Hills community in Arnold. Shared amenities include a playground, pavilion, tennis and basketball courts, and access to nearby trails. Optional memberships are available at Bay Hills Golf Club and Swim Club. Broadneck Park, the Baltimore & Annapolis Trail, Sandy Point State Park, marinas, and waterfront dining are among the nearby destinations; downtown Annapolis is a short drive away.
Key Highlights
- 1,003‑square‑foot condo with two bedrooms and two full baths
- Patio‑level home with a wooded outlook
- Living room fireplace and sliding glass door opening to the patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,536
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,720
$270.7K
Cap Rate 7%
$193,371
$193.4K
Cap Rate 9%
$150,400
$150.4K
Market Conditions
NOI Build-Up for 1,003 SF
Gross rent
$26.2K $26.16/SF
− Vacancy
−$1.6K −$1.62/SF
EGI
$24.6K $24.54/SF
− OpEx
−$11.1K −$11.04/SF
NOI
$13.5K $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%
$270,720
Cap Rate 7%
$193,371
Cap Rate 9%
$150,400
Alternative Uses
Best Use
Apartment 5plus
$193.4K
$169.2K – $225.6K
NOI $13,536 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$293.4K
$256.7K – $342.3K
NOI $20,538 @ 7.0% cap · market cap 6.67%
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
130
Businesses Nearby
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Business Placement
Demographics for 21012, MD
22,377
Population
8,509
Households
2.6
Avg Household Size
41
Median Age
60%
College-Educated
98%
High-School Grad
9.8 sq mi
ZIP Area
2,283
Density / Sq Mi
$137,544
Median Household Income
$72,146
Median Earnings
$2,171
Median Rent
$552,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two bedrooms, two full baths, reserved parking, and a wooded patio create a practical, well-appointed home in Arnold.
Where is this residential income property located?
The property is located at 645 OAKLAND HILLS DRIVE Unit 1B Arnold, MD.
What is the asking price?
The asking price for this property is $308,000.
What are key features of this property?
This property features: 1,003‑square‑foot condo with two bedrooms and two full baths; Patio‑level home with a wooded outlook; Living room fireplace and sliding glass door opening to the patio
