1-Bedroom Residential Income
For Sale
$190,000
709 GLENWOOD STREET Unit 57, Annapolis, MD 21401
Condo includes convenient off-street parking near Annapolis dining, shopping, waterfront attractions, and year-round events.
Property Size595 SF
Days on Market17
Property Features for 709 GLENWOOD STREET Unit 57
General Information
Standard status
Active
Size
595 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,746
Building Details
Building Size
595 SF
Year Built
1960
Listing Agency:
RE/MAX Executive
(410) 245-6365
Listed By:
Rick J Mudd · License #597278
(410) 245-6365
Source:
Bradkappel
Added: Jul 24
Changed: Aug 8
Last Checked: Aug 8 at 9:29AM
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 RE/MAX Executive
Investment Insights
Based on property information with market context.
This one-bedroom, one-bath condo offers a compact residential layout with a low-maintenance living environment. Built in 1960, the property includes convenient off-street parking, a practical feature in an urban setting. The home is positioned for residents seeking access to downtown amenities and local attractions.
The property is located in Annapolis near West Street, Downtown Annapolis, and Navy-Marine Corps Memorial Stadium. Restaurants, boutiques, coffee shops, waterfront attractions, and year-round events are described as being minutes from the property. The location also provides access to nearby dining, entertainment, and historic waterfront activities.
The property is located in Annapolis near West Street, Downtown Annapolis, and Navy-Marine Corps Memorial Stadium. Restaurants, boutiques, coffee shops, waterfront attractions, and year-round events are described as being minutes from the property. The location also provides access to nearby dining, entertainment, and historic waterfront activities.
Key Highlights
- One‑bedroom, one‑bath condo
- Convenient off‑street parking
- Located near West Street and Downtown Annapolis
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
$8,030
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
4.23%
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%
$160,600
$160.6K
Cap Rate 7%
$114,714
$114.7K
Cap Rate 9%
$89,222
$89.2K
Market Conditions
NOI Build-Up for 595 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
$15.6K $26.16/SF
− Vacancy
−$965 −$1.62/SF
EGI
$14.6K $24.54/SF
− OpEx
−$6.6K −$11.04/SF
NOI
$8.0K $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 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%
$160,600
Cap Rate 7%
$114,714
Cap Rate 9%
$89,222
Alternative Uses
Best Use
Apartment 5plus
$114.7K
$100.4K – $133.8K
NOI $8,030 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$174.1K
$152.3K – $203.1K
NOI $12,184 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,938
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Condo includes convenient off-street parking near Annapolis dining, shopping, waterfront attractions, and year-round events.
Where is this residential income property located?
The property is located at 709 GLENWOOD STREET Unit 57 Annapolis, MD.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: One‑bedroom, one‑bath condo; Convenient off‑street parking; Located near West Street and Downtown Annapolis
