Residential Income Property with
76 OLD MILL BOTTOM ROAD N Unit 205, Annapolis, MD 21409
For Sale
$825,000
New condominium residence with open living areas, upgraded finishes, reserved parking, and access to community amenities.
Property Size1,729 SF
Days on Market142
Property Features for 76 OLD MILL BOTTOM ROAD N Unit 205
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Building Details
Building Size
Year Built
Listing Agency:
McWilliams/Ballard, Inc.
Listed By:
Dee Hodge · License #5016749
(240) 486-6769
Source:
Barnesrealestatecompany
Added: Jun 19
Changed: Nov 5
Last Checked: Nov 6 at 6:43PM
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 McWilliams/Ballard, Inc.
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Investment Insights
Based on property information with market context.
This 2024-built residential income property is a condominium residence within Element at Mill Creek, a new construction community in Annapolis. The home includes an open arrangement for living and dining, a kitchen equipped with quartz countertops, upgraded cabinetry, stainless steel appliances, and a center island. Southern exposure and a private balcony overlook forest retention areas.
The primary suite includes a walk-in closet and a spa-style bathroom with upgraded finishes. A full-size washer and dryer, window treatments, additional storage, and reserved parking are included. The community offers resort-style amenities and low-maintenance condominium living.
The primary suite includes a walk-in closet and a spa-style bathroom with upgraded finishes. A full-size washer and dryer, window treatments, additional storage, and reserved parking are included. The community offers resort-style amenities and low-maintenance condominium living.
Key Highlights
- 2024‑built condominium residence at Element at Mill Creek
- Private balcony with southern exposure and forest retention views
- Kitchen features quartz countertops, upgraded cabinetry, stainless steel appliances, and center island
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,334
Cap Rate
2.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$466,680
$466.7K
Cap Rate 7%
$333,343
$333.3K
Cap Rate 9%
$259,267
$259.3K
Market Conditions
NOI Build-Up for 1,729 SF
Gross rent
$45.2K $26.16/SF
− Vacancy
−$2.8K −$1.62/SF
EGI
$42.4K $24.54/SF
− OpEx
−$19.1K −$11.04/SF
NOI
$23.3K $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%
$466,680
Cap Rate 7%
$333,343
Cap Rate 9%
$259,267
Alternative Uses
Best Use
Apartment 5plus
$333.3K
$291.7K – $388.9K
NOI $23,334 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$505.8K
$442.6K – $590.1K
NOI $35,404 @ 7.0% cap · market cap 4.29%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
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Business Placement
Demographics for 21409, MD
20,326
Population
7,541
Households
2.7
Avg Household Size
41
Median Age
57%
College-Educated
98%
High-School Grad
14.0 sq mi
ZIP Area
1,452
Density / Sq Mi
$146,667
Median Household Income
$71,840
Median Earnings
$2,007
Median Rent
$499,700
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Anne Arundel County, MD
Properties on Market for Residential income properties in Anne Arundel County
Frequently Asked Questions
What type of property is this?
Residential income property - New condominium residence with open living areas, upgraded finishes, reserved parking, and access to community amenities.
Where is this residential income property located?
The property is located at 76 OLD MILL BOTTOM ROAD N Unit 205 Annapolis, MD.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 2024‑built condominium residence at Element at Mill Creek; Private balcony with southern exposure and forest retention views; Kitchen features quartz countertops, upgraded cabinetry, stainless steel appliances, and center island
