Second-Floor Residential Income
For Sale
$234,900
811 STRATFORD WAY #E, Frederick, MD 21701
Updated condominium residence with community amenities and convenient access to regional transportation, employment, schools, and shopping.
Property Size986 SF
Days on Market58
Property Features for 811 STRATFORD WAY #E
General Information
Standard status
Active
Size
986 SF
Property subtype
Apartment
Building Details
Building Size
986 SF
Year Built
1990
Listing Agency:
RE/MAX Realty Group
Listed By:
Harlen G Castillo
(301) 258-7757
Source:
Cindee.kw
Added: Jul 9
Changed: Sep 4
Last Checked: Sep 4 at 2:12AM
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 RE/MAX Realty Group
Investment Insights
Based on property information with market context.
This second-floor condominium at 811 Stratford Way, Unit E, includes two bedrooms and one bathroom. Recent improvements include carpeting and LVT installed in 2022/2023, a refrigerator and stove replaced in 2022, a dishwasher added in 2024, and a Bath Fitter bathroom unit installed in 2025. The full-size washer and dryer, water heater, and air-conditioning coil system were replaced in 2024, while the heat pump was serviced in June 2026.
Fredericktowne Village provides playgrounds, walking and jogging trails, a community picnic area, and pet park areas. The pet-friendly community is near schools, shopping, the Frederick Fairgrounds, Frederick MARC Station, Fort Detrick, Route 15, Interstate 70, and Interstate 270. The condominium was built in 1990.
Fredericktowne Village provides playgrounds, walking and jogging trails, a community picnic area, and pet park areas. The pet-friendly community is near schools, shopping, the Frederick Fairgrounds, Frederick MARC Station, Fort Detrick, Route 15, Interstate 70, and Interstate 270. The condominium was built in 1990.
Key Highlights
- Two‑bedroom, one‑bath second‑floor condominium at 811 Stratford Way #E
- Carpeting and LVT updated in 2022/2023
- Dishwasher added in 2024; refrigerator and stove replaced in 2022
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
$13,415
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
5.71%
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%
$268,300
$268.3K
Cap Rate 7%
$191,643
$191.6K
Cap Rate 9%
$149,056
$149.1K
Market Conditions
NOI Build-Up for 986 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
$25.7K $26.04/SF
− Vacancy
−$1.3K −$1.30/SF
EGI
$24.4K $24.74/SF
− OpEx
−$11.0K −$11.13/SF
NOI
$13.4K $13.61/SF
Area
Frederick County, MD
Vacancy
5.00%
Lease Rate
$26.04 /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%
$268,300
Cap Rate 7%
$191,643
Cap Rate 9%
$149,056
Alternative Uses
Best Use
Apartment 5plus
$191.6K
$167.7K – $223.6K
NOI $13,415 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$365.4K
$319.7K – $426.3K
NOI $25,575 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
209
Businesses Nearby
Explore this area
Business Placement
Demographics for 21701, MD
39,629
Population
18,914
Households
2.1
Avg Household Size
40
Median Age
50%
College-Educated
95%
High-School Grad
39.7 sq mi
ZIP Area
998
Density / Sq Mi
$102,306
Median Household Income
$59,381
Median Earnings
$1,607
Median Rent
$404,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium residence with community amenities and convenient access to regional transportation, employment, schools, and shopping.
Where is this residential income property located?
The property is located at 811 STRATFORD WAY #E Frederick, MD.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: Two‑bedroom, one‑bath second‑floor condominium at 811 Stratford Way #E; Carpeting and LVT updated in 2022/2023; Dishwasher added in 2024; refrigerator and stove replaced in 2022
