Waterfront Residential Income
For Sale
$625,000
Pending
7048 HARBOUR VILLAGE COURT Unit 202, Annapolis, MD 21403
Updated residential property with a flexible loft, wraparound deck, and access to Chesapeake Harbour community amenities.
Property Size1,592 SF
Days on Market75
Property Features for 7048 HARBOUR VILLAGE COURT Unit 202
General Information
Standard status
Pending
Size
1,592 SF
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,887
Amenities
gated community
private beach
swimming pools
tennis court
pickleball court
walking trails
marina
on-site restaurant/bar
wraparound deck
Building Details
Building Size
1,592 SF
Year Built
1986
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Catherine A Hamel · License #31116
(301) 802-8151
Source:
Barnesrealestatecompany
Added: Jul 30
Changed: Oct 6
Last Checked: Oct 11 at 11:23AM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This residential income property is a 2-bedroom, 2.5-bath condominium in Chesapeake Harbour, a gated waterfront community in Annapolis. Built in 1986, the home features a light-filled floor plan with an updated kitchen equipped with granite countertops, a center island, stainless steel appliances, and a built-in wine fridge. A loft with custom built-in shelves and a half bath provides flexible additional space for a home office, family room, or guest retreat. The expansive wraparound deck supports outdoor dining and relaxation.
Community amenities include a private beach, two swimming pools, tennis and pickleball courts, walking trails, a marina, and Beacon Waterfront Galley & Bar. Chesapeake Harbour is located minutes from Historic Downtown Annapolis. Residents also have the opportunity to join the Canton Kayak Club, with kayak access and launch sites throughout the region, including a launch within Chesapeake Harbour.
Community amenities include a private beach, two swimming pools, tennis and pickleball courts, walking trails, a marina, and Beacon Waterfront Galley & Bar. Chesapeake Harbour is located minutes from Historic Downtown Annapolis. Residents also have the opportunity to join the Canton Kayak Club, with kayak access and launch sites throughout the region, including a launch within Chesapeake Harbour.
Key Highlights
- 2‑bedroom, 2.5‑bath condominium in Chesapeake Harbour
- Updated kitchen with granite countertops, center island, stainless steel appliances, and built‑in wine fridge
- Loft with custom built‑in shelves and half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,486
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,720
$429.7K
Cap Rate 7%
$306,943
$306.9K
Cap Rate 9%
$238,733
$238.7K
Market Conditions
NOI Build-Up for 1,592 SF
Gross rent
$41.6K $26.16/SF
− Vacancy
−$2.6K −$1.62/SF
EGI
$39.1K $24.54/SF
− OpEx
−$17.6K −$11.04/SF
NOI
$21.5K $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%
$429,720
Cap Rate 7%
$306,943
Cap Rate 9%
$238,733
Alternative Uses
Best Use
Apartment 5plus
$306.9K
$268.6K – $358.1K
NOI $21,486 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$465.7K
$407.5K – $543.3K
NOI $32,599 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
290
Businesses Nearby
Explore this area
Business Placement
Demographics for 21403, MD
31,521
Population
15,479
Households
2
Avg Household Size
42
Median Age
58%
College-Educated
91%
High-School Grad
9.3 sq mi
ZIP Area
3,389
Density / Sq Mi
$115,068
Median Household Income
$64,638
Median Earnings
$1,872
Median Rent
$566,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated residential property with a flexible loft, wraparound deck, and access to Chesapeake Harbour community amenities.
Where is this residential income property located?
The property is located at 7048 HARBOUR VILLAGE COURT Unit 202 Annapolis, MD.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2‑bedroom, 2.5‑bath condominium in Chesapeake Harbour; Updated kitchen with granite countertops, center island, stainless steel appliances, and built‑in wine fridge; Loft with custom built‑in shelves and half bath
