Residential Income Unit with Open
For Sale
$210,000
7653 GLADSTONE ROAD Unit 5-7653, Windsor Mill, MD 21244
Two-bedroom, two-bath unit with a fully equipped kitchen, in-unit laundry, and community-maintained exterior services.
Property Size1,076 SF
Days on Market65
Property Features for 7653 GLADSTONE ROAD Unit 5-7653
General Information
Standard status
Active
Size
1,076 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,576
Amenities
in-unit washer and dryer
lawn maintenance
snow removal
trash collection
Building Details
Building Size
1,076 SF
Year Built
1994
Listing Agency:
Cummings & Co. Realtors
(240) 784-6929
Listed By:
Sharetta M Jones · License #5016832
(240) 784-6929
Source:
Thehulsmangroup
Added: Jun 8
Changed: Aug 10
Last Checked: Aug 11 at 1:15PM
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 residential income unit in Stonegate at Patapsco includes two bedrooms and two bathrooms within an open floor plan. The interior offers a dedicated dining area and separate breakfast nook, creating distinct spaces for meals and everyday use. The kitchen is equipped with a dishwasher, microwave, and electric oven, while an in-unit washer and dryer add convenience. Built in 1994, the property is part of a community with common grounds and included lawn maintenance, snow removal, and trash collection. The location also provides access to public services, and the community is identified as Stonegate at Patapsco.
Key Highlights
- Two‑bedroom, two‑bath residential income unit
- Open floor plan with dining area and breakfast nook
- Kitchen includes dishwasher, microwave, and electric oven
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
$14,019
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
6.68%
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%
$280,380
$280.4K
Cap Rate 7%
$200,271
$200.3K
Cap Rate 9%
$155,767
$155.8K
Market Conditions
NOI Build-Up for 1,076 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
$27.1K $25.20/SF
− Vacancy
−$1.6K −$1.51/SF
EGI
$25.5K $23.69/SF
− OpEx
−$11.5K −$10.66/SF
NOI
$14.0K $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%
$280,380
Cap Rate 7%
$200,271
Cap Rate 9%
$155,767
Alternative Uses
Best Use
Apartment 5plus
$200.3K
$175.2K – $233.7K
NOI $14,019 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$257.8K
$225.6K – $300.8K
NOI $18,045 @ 7.0% cap · market cap 8.59%
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
139
Businesses Nearby
Explore this area
Business Placement
Demographics for 21244, MD
38,015
Population
15,006
Households
2.5
Avg Household Size
36
Median Age
35%
College-Educated
90%
High-School Grad
14.1 sq mi
ZIP Area
2,696
Density / Sq Mi
$84,849
Median Household Income
$45,367
Median Earnings
$1,538
Median Rent
$271,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath unit with a fully equipped kitchen, in-unit laundry, and community-maintained exterior services.
Where is this residential income property located?
The property is located at 7653 GLADSTONE ROAD Unit 5-7653 Windsor Mill, MD.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath residential income unit; Open floor plan with dining area and breakfast nook; Kitchen includes dishwasher, microwave, and electric oven
