Top-Floor Residential Income
For Sale
$264,500
8371 MONTGOMERY RUN ROAD Unit K, Ellicott City, MD 21043
Well-maintained condominium residence with a private balcony, fireplace, dedicated dining area, and assigned parking.
Property Size962 SF
Days on Market60
Property Features for 8371 MONTGOMERY RUN ROAD Unit K
General Information
Standard status
Active
Size
962 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,842
Building Details
Building Size
962 SF
Year Built
1988
Listing Agency:
Coldwell Banker Realty
Listed By:
Dalys A Keith · License #533359
(410) 336-5516
Source:
Thehulsmangroup
Added: Aug 8
Changed: Oct 3
Last Checked: Oct 5 at 10:42PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This residential income property is a penthouse-level condominium completed in 1988. The two-bedroom, two-bath layout includes a dedicated dining area, hardwood flooring through the main living spaces, and carpeting in select areas. The living room features a fireplace and opens onto a private balcony with views toward a sloping lawn and mature trees. A primary suite with its own bathroom is complemented by a second bedroom and full hall bath.
An assigned parking space accompanies the residence. The community is surrounded by mature trees and is situated near shopping, restaurants, parks, and major commuter routes, combining a quieter setting with access to everyday destinations.
An assigned parking space accompanies the residence. The community is surrounded by mature trees and is situated near shopping, restaurants, parks, and major commuter routes, combining a quieter setting with access to everyday destinations.
Key Highlights
- Penthouse‑level condominium with two bedrooms and two bathrooms
- Private balcony overlooks a sloping lawn and mature trees
- Living room includes a fireplace and opens to the balcony
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,116
Cap Rate
4.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$262,320
$262.3K
Cap Rate 7%
$187,371
$187.4K
Cap Rate 9%
$145,733
$145.7K
Market Conditions
NOI Build-Up for 962 SF
Gross rent
$25.1K $26.04/SF
− Vacancy
−$1.2K −$1.25/SF
EGI
$23.8K $24.79/SF
− OpEx
−$10.7K −$11.16/SF
NOI
$13.1K $13.63/SF
Area
Howard County, MD
Vacancy
4.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$262,320
Cap Rate 7%
$187,371
Cap Rate 9%
$145,733
Alternative Uses
Best Use
Apartment 5plus
$187.4K
$164.0K – $218.6K
NOI $13,116 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$356.8K
$312.2K – $416.2K
NOI $24,973 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
Explore this area
Business Placement
Demographics for 21043, MD
48,775
Population
17,978
Households
2.7
Avg Household Size
39
Median Age
64%
College-Educated
95%
High-School Grad
17.1 sq mi
ZIP Area
2,852
Density / Sq Mi
$141,846
Median Household Income
$77,574
Median Earnings
$1,964
Median Rent
$607,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Well-maintained condominium residence with a private balcony, fireplace, dedicated dining area, and assigned parking.
Where is this residential income property located?
The property is located at 8371 MONTGOMERY RUN ROAD Unit K Ellicott City, MD.
What is the asking price?
The asking price for this property is $264,500.
What are key features of this property?
This property features: Penthouse‑level condominium with two bedrooms and two bathrooms; Private balcony overlooks a sloping lawn and mature trees; Living room includes a fireplace and opens to the balcony
