Two-Bedroom Residential Income
New
For Sale
$320,000
702 ORCHARD OVERLOOK #104, Odenton, MD 21113
The condo has a remodeled kitchen, with new appliances installed in 2023.
Property Size1,018 SF
Price / SF$314.34
Days on Market6
Property Features for 702 ORCHARD OVERLOOK #104
General Information
Standard status
Active
Size
1,018 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Building Details
Year Built
1992
Year Renovated
2023
Listing Agency:
Houwzer, LLC
(202) 866-8787
Listed By:
Pamela Debnam · License #0225264797
(252) 903-3616
Source:
Cummingsrealtors
Added: Oct 6
Changed: Oct 10
Last Checked: Oct 11 at 9:04AM
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 Houwzer, LLC
Investment Insights
Based on property information with market context.
This two-bedroom, one-bathroom condo contains 1,018 square feet and was built in 1992. Interior updates include a remodeled kitchen with appliances added in 2023, along with new flooring and lighting from the same year.
Key Highlights
- Two bedrooms and one bathroom
- 1,018 square feet
- Built in 1992
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,739
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$274,780
$274.8K
Cap Rate 7%
$196,271
$196.3K
Cap Rate 9%
$152,656
$152.7K
Market Conditions
NOI Build-Up for 1,018 SF
Gross rent
$26.6K $26.16/SF
− Vacancy
−$1.7K −$1.62/SF
EGI
$25.0K $24.54/SF
− OpEx
−$11.2K −$11.04/SF
NOI
$13.7K $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%
$274,780
Cap Rate 7%
$196,271
Cap Rate 9%
$152,656
Alternative Uses
Best Use
Apartment 5plus
$196.3K
$171.7K – $229.0K
NOI $13,739 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$297.8K
$260.6K – $347.4K
NOI $20,845 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Explore this area
Business Placement
Demographics for 21113, MD
35,670
Population
16,103
Households
2.2
Avg Household Size
36
Median Age
51%
College-Educated
98%
High-School Grad
15.0 sq mi
ZIP Area
2,378
Density / Sq Mi
$125,081
Median Household Income
$68,955
Median Earnings
$2,152
Median Rent
$401,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The condo has a remodeled kitchen, with new appliances installed in 2023.
Where is this residential income property located?
The property is located at 702 ORCHARD OVERLOOK #104 Odenton, MD.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two bedrooms and one bathroom; 1,018 square feet; Built in 1992
