Residential Income Studio in 55+
For Sale
$185,000
Pending
7058 BASSWOOD ROAD, Frederick, MD 21703
Single-occupancy layout with in-unit laundry, updated fixtures, and generous storage.
Property Size617 SF
Days on Market14
Property Features for 7058 BASSWOOD ROAD
General Information
Standard status
Pending
Size
617 SF
Property subtype
Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
fitness center
indoor pool
outdoor pool
indoor spa
library
computer room
billiards
tennis courts
shuffleboard courts
parks
outdoor patio
multipurpose rooms
demonstration/catering kitchen
golf practice facilities
putting green
community transit services
stacked washer/dryer in unit
Building Details
Year Built
1979
Listing Agency:
Charis Realty Group
(240) 626-8426
Listed By:
Sarah Elizabeth Strong · License #657008
(240) 626-8426
Source:
Cummingsrealtors
Added: Aug 8
Changed: Aug 21
Last Checked: Aug 21 at 9:18AM
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 Charis Realty Group
Investment Insights
Based on property information with market context.
This 617-square-foot studio is located in a 55+ community and was built in 1979. The unit includes a full bathroom, kitchen improvements with updated lighting, a revised faucet, filtered water, pull-down shades, and a stacked washer and dryer. A walk-in closet and attic flooring provide additional storage space.
Community services include snow removal, yard maintenance, basic cable, and transit for local errands and trips. Residents have access to indoor and outdoor pools, an indoor spa, fitness facilities, tennis and shuffleboard courts, billiards, a library, computer room, parks, natural areas, golf practice facilities, and a putting green. The property is in central Frederick County, within a short drive of downtown shopping, dining, and major highways.
Community services include snow removal, yard maintenance, basic cable, and transit for local errands and trips. Residents have access to indoor and outdoor pools, an indoor spa, fitness facilities, tennis and shuffleboard courts, billiards, a library, computer room, parks, natural areas, golf practice facilities, and a putting green. The property is in central Frederick County, within a short drive of downtown shopping, dining, and major highways.
Key Highlights
- 617 SF studio in a 55+ community
- Full bathroom and stacked washer and dryer within the unit
- Kitchen includes updated lighting, faucet upgrades, and filtered water
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
$8,395
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
4.54%
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%
$167,900
$167.9K
Cap Rate 7%
$119,929
$119.9K
Cap Rate 9%
$93,278
$93.3K
Market Conditions
NOI Build-Up for 617 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
$16.1K $26.04/SF
− Vacancy
−$803 −$1.30/SF
EGI
$15.3K $24.74/SF
− OpEx
−$6.9K −$11.13/SF
NOI
$8.4K $13.61/SF
Area
Frederick County, MD
Vacancy
5.00%
Lease Rate
$26.04 /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%
$167,900
Cap Rate 7%
$119,929
Cap Rate 9%
$93,278
Alternative Uses
Best Use
Apartment 5plus
$119.9K
$104.9K – $139.9K
NOI $8,395 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$228.6K
$200.1K – $266.7K
NOI $16,004 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
941
Businesses Nearby
Explore this area
Business Placement
Demographics for 21703, MD
41,138
Population
15,773
Households
2.6
Avg Household Size
35
Median Age
43%
College-Educated
92%
High-School Grad
32.0 sq mi
ZIP Area
1,286
Density / Sq Mi
$105,293
Median Household Income
$56,791
Median Earnings
$1,887
Median Rent
$364,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Single-occupancy layout with in-unit laundry, updated fixtures, and generous storage.
Where is this residential income property located?
The property is located at 7058 BASSWOOD ROAD Frederick, MD.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 617 SF studio in a 55+ community; Full bathroom and stacked washer and dryer within the unit; Kitchen includes updated lighting, faucet upgrades, and filtered water
