Building Details

Building Size 1,128 SF

Year Built 1987

Listing Agency: RE/MAX Results

Listed By: Darren T Ahearn · License #585707 Show Phone

Source: Thehulsmangroup

Added: Sep 29 Changed: Oct 6 Last Checked: Oct 11 at 10:27AM

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Investment Insights

Based on property information with market context.

This third-level condominium in a brick building has two bedrooms and two full bathrooms. Interior improvements include new carpeting, refreshed kitchen flooring, updated appliances, a replacement HVAC system and electrical panel installed in 2026, and a water heater replaced in 2017. The owner’s suite has a large closet and a private bathroom. The patio has new deck carpeting.

The unit includes two assigned parking spaces, with additional visitor parking available. Building features include 24-hour security, locked-entry doors, and a sprinkler and fire-suppression system.

Key Highlights

• Two‑bedroom, two‑full‑bath condominium on the third level
• HVAC system and electrical panel installed in 2026; water heater replaced in 2017
• Two assigned parking spaces, plus visitor parking

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,696

Cap Rate

7.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$293,920 $293.9K

Cap Rate 7%

$209,943 $209.9K

Cap Rate 9%

$163,289 $163.3K

Market Conditions

NOI Build-Up for 1,128 SF

Gross rent

$28.4K $25.20/SF

− Vacancy

−$1.7K −$1.51/SF

EGI

$26.7K $23.69/SF

− OpEx

−$12.0K −$10.66/SF

NOI

$14.7K $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 Rate 5%

$293,920

Cap Rate 7%

$209,943

Cap Rate 9%

$163,289

Alternative Uses

Best Use

Apartment 5plus

$209.9K

$183.7K – $244.9K (±1% cap)

NOI $14,696 @ 7.0% cap · market cap 7.74%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$270.2K

$236.5K – $315.3K (±1% cap)

NOI $18,917 @ 7.0% cap · market cap 9.96%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Greengate Condo Condominium Complex

Suggested Use

Top Pick Restaurant Nail Salon Hair Salon Pharmacy Food Market Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

182

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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What type of property is this? Where is this residential income properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Residential income property - The condominium offers two bedrooms, two full bathrooms, assigned parking, and controlled building access.

Where is this residential income property located?

The property is located at 7203 ROCKLAND HILLS DRIVE Unit 306 Baltimore, MD.

What is the asking price?

The asking price for this property is $189,900.

What are key features of this property?

This property features: Two‑bedroom, two‑full‑bath condominium on the third level; HVAC system and electrical panel installed in 2026; water heater replaced in 2017; Two assigned parking spaces, plus visitor parking