First-Floor Residential Income
For Sale
$429,900
7201 TRAVERTINE DRIVE Unit 104, Baltimore, MD 21209
Two-bedroom condominium with a den, private balcony, oversized garage, and access to community amenities.
Property Size1,474 SF
Days on Market66
Property Features for 7201 TRAVERTINE DRIVE Unit 104
General Information
Standard status
Active
Size
1,474 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$4,060
Building Details
Building Size
1,474 SF
Year Built
2007
Listing Agency:
Cummings & Co. Realtors
(240) 508-3975
Listed By:
Richard M Waxman · License #665025
(240) 508-3975
Source:
Thehulsmangroup
Added: Jun 19
Changed: Aug 22
Last Checked: Aug 22 at 10:22AM
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 Cummings & Co. Realtors
Investment Insights
Based on property information with market context.
This first-floor condominium at Highlands at Quarry Lake offers nearly 1,500 square feet with two bedrooms, two bathrooms, and a flexible den. The residence includes engineered hardwood laminate flooring, a private balcony, and views toward mature trees, landscaped grounds, and the community walking path. The primary suite features tray ceilings, a sitting area, and a walk-in closet, while the second bedroom also provides walk-in storage.
The property includes an oversized garage, additional storage space, and a private two-car driveway. Garage access connects conveniently to the building entrance near the residence. Community amenities include a clubhouse with scheduled social activities and an outdoor pool. Shopping and dining are within walking distance, and I-695 provides regional commuting access. Built in 2007, the condominium is located at 7201 Travertine Drive, Unit 104, in Baltimore, Maryland.
The property includes an oversized garage, additional storage space, and a private two-car driveway. Garage access connects conveniently to the building entrance near the residence. Community amenities include a clubhouse with scheduled social activities and an outdoor pool. Shopping and dining are within walking distance, and I-695 provides regional commuting access. Built in 2007, the condominium is located at 7201 Travertine Drive, Unit 104, in Baltimore, Maryland.
Key Highlights
- Nearly 1,500 square feet with 2 bedrooms, 2 bathrooms, and a den
- First‑floor condominium with private balcony and views of mature trees and landscaped grounds
- Oversized garage with storage and private two‑car driveway
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
$19,204
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
4.47%
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%
$384,080
$384.1K
Cap Rate 7%
$274,343
$274.3K
Cap Rate 9%
$213,378
$213.4K
Market Conditions
NOI Build-Up for 1,474 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
$37.1K $25.20/SF
− Vacancy
−$2.2K −$1.51/SF
EGI
$34.9K $23.69/SF
− OpEx
−$15.7K −$10.66/SF
NOI
$19.2K $13.03/SF
Area
Baltimore, MD
Vacancy
6.00%
Lease Rate
$25.20 /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%
$384,080
Cap Rate 7%
$274,343
Cap Rate 9%
$213,378
Alternative Uses
Best Use
Apartment 5plus
$274.3K
$240.1K – $320.1K
NOI $19,204 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$353.1K
$309.0K – $412.0K
NOI $24,719 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
484
Businesses Nearby
Explore this area
Business Placement
Demographics for 21209, MD
28,659
Population
12,086
Households
2.4
Avg Household Size
37
Median Age
60%
College-Educated
96%
High-School Grad
6.5 sq mi
ZIP Area
4,409
Density / Sq Mi
$87,669
Median Household Income
$57,694
Median Earnings
$1,640
Median Rent
$418,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with a den, private balcony, oversized garage, and access to community amenities.
Where is this residential income property located?
The property is located at 7201 TRAVERTINE DRIVE Unit 104 Baltimore, MD.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Nearly 1,500 square feet with 2 bedrooms, 2 bathrooms, and a den; First‑floor condominium with private balcony and views of mature trees and landscaped grounds; Oversized garage with storage and private two‑car driveway
