Residential Income Property with
For Sale
$514,160
76 OLD MILL BOTTOM ROAD N Unit 408, Annapolis, MD 21409
The 2024 condominium includes a private balcony, reserved parking, and a full-size washer and dryer.
Property Size1,076 SF
Price / SF$477.84
Days on Market281
Property Features for 76 OLD MILL BOTTOM ROAD N Unit 408
General Information
Standard status
Active
Size
1,076 SF
Property subtype
Unit/Flat/Apartment
Building Details
Building Size
1,076 SF
Year Built
2024
Listing Agency:
McWilliams/Ballard, Inc.
Listed By:
Dee Hodge · License #5016749
(240) 486-6769
Source:
Gallerycollectivere
Added: Jan 22
Changed: Oct 27
Last Checked: Oct 26 at 4:11PM
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.
Built in 2024, this condominium features an open living and dining area, a kitchen with quartz countertops, upgraded cabinetry, stainless steel appliances, and a center island. The primary suite includes a walk-in closet and a private bath. A full-size washer and dryer, window treatments, and additional storage are also included.
A private balcony faces forest retention, and the home has southern exposure. Reserved parking is provided. The property is located on Old Mill Bottom Road North in Annapolis, Maryland.
A private balcony faces forest retention, and the home has southern exposure. Reserved parking is provided. The property is located on Old Mill Bottom Road North in Annapolis, Maryland.
Key Highlights
- 2024 condominium with a private balcony and southern exposure
- Balcony overlooks forest retention
- Kitchen includes quartz countertops, upgraded cabinetry, stainless steel appliances, and a center island
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,522
Cap Rate
2.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$290,440
$290.4K
Cap Rate 7%
$207,457
$207.5K
Cap Rate 9%
$161,356
$161.4K
Market Conditions
NOI Build-Up for 1,076 SF
Gross rent
$28.1K $26.16/SF
− Vacancy
−$1.7K −$1.62/SF
EGI
$26.4K $24.54/SF
− OpEx
−$11.9K −$11.04/SF
NOI
$14.5K $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%
$290,440
Cap Rate 7%
$207,457
Cap Rate 9%
$161,356
Alternative Uses
Best Use
Apartment 5plus
$207.5K
$181.5K – $242.0K
NOI $14,522 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$314.8K
$275.4K – $367.2K
NOI $22,033 @ 7.0% cap · market cap 4.29%
Zoning and permitted uses should be independently verified with authorities.
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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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Frequently Asked Questions
What type of property is this?
Residential income property - The 2024 condominium includes a private balcony, reserved parking, and a full-size washer and dryer.
Where is this residential income property located?
The property is located at 76 OLD MILL BOTTOM ROAD N Unit 408 Annapolis, MD.
What is the asking price?
The asking price for this property is $514,160.
What are key features of this property?
This property features: 2024 condominium with a private balcony and southern exposure; Balcony overlooks forest retention; Kitchen includes quartz countertops, upgraded cabinetry, stainless steel appliances, and a center island
